Overview
- Bitcoin jumped back above $71,000 after President Trump, who on Monday announced a five‑day pause in planned strikes and said talks with Iran had begun, sparked a relief move that later faded before prices recovered.
- Iranian officials publicly rejected claims of active negotiations, and coverage split between reports of de‑escalation prospects and firm denials, leaving traders to chase fast swings driven by each headline.
- Oil dropped sharply on reports of a possible framework to halt fighting, with Brent sliding from above $104 to below $100, a move that signaled less strain on inflation and helped lift risk assets including crypto.
- Bernstein said Bitcoin looks bottomed and highlighted steadier support from spot ETFs and large holders, with funds now controlling about 6.1% of supply and Strategy’s treasury holding near 3.6%.
- Derivatives positioning kept the tape jumpy as crypto’s 24/7 trading and thin weekend liquidity fueled quick reversals, with roughly $234 million in positions wiped out in a day and price still boxed in a $65,000–$75,000 range.