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Bitcoin rose following plans to create a new coalition
Bitcoin (BTC) rose by about 2%, reaching a session high of $74,309 at the opening of Asian trading on Monday. The move came as a direct reaction to statements by Donald Trump about plans to form an international coalition.
The main goal of the alliance is to unblock the Strait of Hormuz. In addition, the U.S. administration is reportedly considering the possibility of a ground operation to seize Iran’s Khark Island.
According to Axios, the potential military operation is directly linked to the situation involving oil tankers in the Persian Gulf, through which more than 90% of Iran’s crude oil exports pass.
So far, no country has publicly confirmed its participation in the new coalition. However, the White House expects to receive official responses from allies by the end of the current week.
Markets assess prospects for conflict de-escalation
Investors interpreted these political efforts as a possible signal of stabilization in the region.
The cryptocurrency’s price rose from $72,785 to $74,309, before naturally correcting to around $73,563. The key resistance level near $74,051 held firmly despite buying pressure.
Bitcoin price dynamics. Source: CoinGecko
Since the escalation began on February 28, Bitcoin has consistently formed higher local lows amid ongoing geopolitical developments. The coin has risen about 11% from its initial drop to $64,000.
The $73,000–$74,000 zone remains the main barrier to further price growth. Therefore, a formal signing of the coalition agreement could act as a catalyst for a decisive breakout above this level.
