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Bitcoin shows optimism at $70K level amid de-escalation with Iran
Bitcoin rose on Tuesday, extending gains from the previous session, as prospects of de-escalation in the conflict involving the U.S., Israel, and Iran supported risk assets.
However, the cryptocurrency traded well below intraday highs after Iran denied participating in talks with the U.S., while hostilities in the Middle East showed no signs of easing.
Bitcoin also received support after the largest corporate holder, Strategy, announced plans to acquire more cryptocurrency. The world’s largest cryptocurrency rose 1.9% to $70,214.7 as of 06:09 GMT.
Iran denies de-escalation talks with Washington
Senior Iranian officials denied reports of participating in negotiations with the U.S., contradicting statements by President Donald Trump about “productive” talks with Tehran.
Fighting between Iran and Israel also showed no signs of cooling on Tuesday, amid reports of continued strikes between the two countries and other Gulf states.
However, media reports indicated that some Asian and Gulf countries are relaying messages between the U.S. and Iran.
Conflicting signals regarding the Iran conflict have left markets uncertain about its future trajectory, while oil prices rebounded sharply on Tuesday.
Markets fear that prolonged increases in oil prices could drive global inflation higher, prompting tighter policies from central banks. Such a scenario is unfavorable for speculative, non-yielding assets like Bitcoin and gold.
However, Bitcoin has outperformed gold since the start of the Iran conflict, with the precious metal facing notable losses due to profit-taking and the bursting of speculative bubbles.
Strategy unveils $42B capital plan to buy Bitcoin
Strategy Inc (NASDAQ:MSTR) on Monday introduced a new $42 billion equity offering program aimed at raising capital to purchase more Bitcoin.
The plan includes $21 billion in common stock and $21 billion in preferred shares, along with an additional $2.1 billion potential raise through a separate preferred stock issuance.
The company also disclosed purchasing 1,031 Bitcoin last week, bringing its total holdings to 762,099 BTC.
Strategy remains the largest corporate holder of Bitcoin, and its latest capital plans are expected to provide further bullish signals for the cryptocurrency.
However, in recent months, the company has faced increased investor scrutiny over the long-term sustainability of its Bitcoin acquisition strategy. Its stock has declined by 12% since the start of 2026.
Crypto prices today: altcoins follow Bitcoin’s rise
Prices across the broader crypto market largely moved in line with Bitcoin, with market focus centered on any signs of de-escalation in the Iran conflict.
Ethereum, the second-largest cryptocurrency, rose 2.9% to $2,129.90, while XRP gained 1.5% to $1.4121.
Solana and Cardano each rose by more than 3%, while BNB lagged behind, falling 0.6%.
Among memecoins, Dogecoin rose 2.8%, while $TRUMP gained 1.5%.
See also: "Michael Saylor’s Strategy company ignores the war! They bought Bitcoin again!"
