Bitcoin edged higher on Monday as investors digested mixed signals from both the U.S. and Iran regarding the ongoing Middle East conflict.
The world’s largest cryptocurrency had logged a two-week losing streak by Friday, with broader risk assets under pressure since the war began.
As of 18:13 ET (22:13 GMT), Bitcoin was up 1.4% at $66,734.8.
Iran escalation in focus
Markets on Monday signaled a worsening conflict in Iran, particularly after Yemen’s Iran-backed Houthi group entered the fray by launching missiles at Israel over the weekend.
Their involvement risks opening a new front, given their ability to carry out attacks in the Red Sea.
Separately, President Donald Trump warned he could target key Iranian energy infrastructure, including Kharg Island, if Tehran fails to reach an agreement with the U.S.
Trump said Washington was engaged in “serious discussions with a new, and more reasonable, regime,” though he added that failure to strike a deal—and reopen the Strait of Hormuz—could lead to sweeping attacks on Iran’s power plants, oil fields, and desalination facilities.
Iran has denied any direct negotiations. State media reported that while messages had been relayed through intermediaries, Tehran rejected U.S. demands as “excessive” and “illogical,” citing foreign ministry spokesperson Esmaeil Baqaei.
The White House later said public statements differed significantly from private communications, maintaining that talks were still ongoing.
Meanwhile, crypto markets began the week on a steadier note. Total market capitalization rose 1% over the past 24 hours to $2.32 trillion, despite renewed concerns over Middle East tensions, according to Dessislava Ianeva of Nexo Dispatch. She noted that geopolitical developments continue to drive short-term volatility and heighten the importance of upcoming macroeconomic data.
Strategy may pause Bitcoin buying streak
Strategy (NASDAQ:MSTR), the world’s largest corporate holder of Bitcoin, may have skipped adding to its holdings last week, according to a Coindesk report.
Executive Chair Michael Saylor typically hints at upcoming purchases in a Sunday post on X, followed by a formal announcement on Monday. This time, however, his post focused on promoting Strategy’s preferred equity offerings instead.
If confirmed, the pause would break a 13-week buying streak dating back to late December, during which the company accumulated a total of 90,831 Bitcoin, Coindesk said.
Crypto prices moved higher on Monday, with altcoins following Bitcoin’s upward trend.
The second-largest cryptocurrency, Ether, gained 3.1% to $2,034.71, while XRP rose 0.8% to $1.3282. BNB, Solana, and Cardano posted increases of 1.2%, 2.6%, and 2.7%, respectively.
Among meme coins, Dogecoin edged up 1.2%, and $TRUMP jumped 2.9%.
Sources: Anuron Mitra
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