Bitcoin held above $68,000 as investors reacted to signs Trump may seek a quicker end to the Iran war, though traders remained cautious.
Bitcoin (BTC) briefly rose to $68,589 and US stock markets rallied after reports that President Donald Trump said he could consider ending the US and Israel‑Iran war, with the Strait of Hormuz partially closed, though no official statement was issued. Unconfirmed comments attributed to Iranian President Masoud Pezeshkian also suggested Iran may be looking for a way out with certain assurances. The Dow gained more than 1,125 points, the S&P 500 rose 2.91%, and the Nasdaq climbed 3.83%.
Despite the broad market gains, crypto traders expressed skepticism about Bitcoin holding its advances. Analysts noted a daily close above the 50‑day moving average and $68,879 would be important to establish an early trend change and potentially clear overhead short liquidity, which could spark a liquidation‑driven rally toward $82,000.
A lack of confident spot demand continues to cap sustained price breakouts. Open interest in Bitcoin futures and spot demand have stayed relatively flat since the Feb. 6 sell‑off below $60,000, indicating much of the recent price action is driven by headlines, equities and perpetual futures rather than fresh directional bets from investors. Short‑term traders remain under water versus a cost basis around $85,800, and stablecoin inflows to exchanges are near a two‑year low, underscoring traders’ reluctance to take strong directional positions.
This article is produced in accordance with Cointelegraph’s Editorial Policy and is intended for informational purposes only. It does not constitute investment advice or recommendations. All investments and trades carry risk; readers are encouraged to conduct independent research before making any decisions. Cointelegraph makes no guarantees regarding the accuracy or completeness of the information presented, including forward-looking statements, and will not be liable for any loss or damage arising from reliance on this content.
