Bitcoin surged to $71,200 on Monday as investors are optimisitc on de-escalation of the Iran conflict.

 

The move started when President Trump posted on Truth Social that he had instructed the Department of War to postpone planned strikes against Iranian power plants and energy infrastructure for five days, following what he called "very good and productive" talks with Tehran. Crypto jumped roughly 5% on the news. Ether climbed above $2,100, BNB pushed through $650, and XRP traded above $1.40. Oil plunged around 11%, S&P 500 futures gained nearly 4%, and global markets added an estimated $2.5 trillion in value within about 20 minutes.

 

Then Iran's state-affiliated Fars News Agency cited an unidentified source denying any talks had taken place. Gains started reversing almost immediately. Bitcoin is now up about 2.5% on the day and down roughly 5% on the week, sitting just under $71,000 after hitting an intraday high of $71,224 per CoinGecko data.

 

The session is the latest chapter in a conflict that has rattled crypto markets since Operation Epic Fury launched on February 28, when the U.S. and Israel struck targets across Iran and killed Supreme Leader Ali Khamenei. Iran's subsequent blockade of the Strait of Hormuz, a critical chokepoint for global oil flows, has kept energy prices elevated and risk appetite suppressed. The Federal Reserve, meeting earlier this month against that backdrop, revised its 2026 inflation forecast upward to 2.7% and signaled a higher-for-longer stance on rates.

 

Despite the chaos, Bitcoin has held above its pre-war price level, a fact that has not gone unnoticed. When the strikes began on a Saturday morning and every traditional market was closed, crypto was the only liquid venue available for investors to respond. That 24/7 trading reality, once seen as a volatility risk, has started looking more like a feature.

 

The five-day pause, if it holds at all, does not end the conflict. Iran continues to strike targets across the Gulf, and Israel would need to sign on to any broader ceasefire. Israel has publicly said it has thousands of remaining targets and requires at least three more weeks of operations. Prediction markets currently favor a ceasefire by late April at the earliest.

 

Bitcoin's 30-day implied volatility index has bounced to 60%, and $791 million in total leveraged positions have been wiped across crypto markets this session according to CoinGlass, with $425 million of those being longs. The clock on Trump's five-day window is ticking, and so is the market's patience.