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Bitcoin falls as traders monitor tensions around Iran
Bitcoin fell below the $75,000 mark on Monday, retreating from recent gains as investors remained cautious amid escalating tensions between the United States and Iran ahead of a ceasefire deadline.
The world’s largest cryptocurrency was last trading 0.7% lower at $74,756.6 as of 07:09 GMT.
Last week, Bitcoin briefly rose above $78,000 on hopes for a sustainable ceasefire and the reopening of shipping routes.
U.S.-Iran tensions rise ahead of ceasefire deadline
The decline followed a series of geopolitical developments over the weekend, including the U.S. seizure of an Iranian-flagged cargo vessel and statements from Tehran suggesting it may withdraw from further negotiations.
The situation raised concerns about a renewed conflict, particularly as the Strait of Hormuz remains closed — a key artery for global oil supplies.
Rising tensions sharply boosted oil prices and triggered a broader risk-off move, with U.S. stock futures also declining during Asian trading.
Cryptocurrencies, which often trade in line with risk assets, came under pressure as investors shifted toward traditional safe havens.
Analysts expect volatility to remain elevated in the short term, with geopolitical developments and oil price fluctuations likely to drive the direction of the crypto market.
The Information: Polymarket in talks to raise funds at $15 billion valuation
Prediction platform Polymarket is in talks to raise $400 million at a valuation of about $15 billion, The Information reported on Sunday, citing people familiar with the matter.
The discussions come amid growing investor interest in prediction markets, which have seen a surge in trading volumes and institutional participation in recent months.
According to the report, Polymarket is exploring options to raise new capital to expand its platform and strengthen its position in the fast-growing event-based trading space.
The potential valuation would mark a sharp increase from previous funding rounds and highlights strong demand for alternative trading platforms tied to real-world outcomes.
Polymarket did not immediately respond to a request for comment on the report.
Crypto today: altcoins remain steady, Ether jumps more than 4%
Most altcoins also edged lower on Monday amid cautious sentiment.
The world’s second-largest cryptocurrency, Ethereum, fell 1.3% to $2,285.63.
The world’s third-largest cryptocurrency, XRP, declined 0.4% to $1.41.
Solana dipped 0.5%, while Cardano and Polygon traded largely unchanged.
Among meme tokens, Dogecoin also traded flat.
See also: "Developers respond to manipulation allegations around the RAVE token"
