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Bitcoin today: rises above $69K amid possible Iran ceasefire
Bitcoin rose above $69,000 on Monday following reports that Iran and the United States received a ceasefire plan that could reopen the Strait of Hormuz as early as Monday, improving risk appetite.
The world’s largest cryptocurrency was trading 3.4% higher at $69,065.9 as of 07:38 GMT.
U.S. and Iran reportedly receive ceasefire plan
According to a report by Reuters on Monday, Iran and the U.S. received a plan to halt hostilities that could take effect immediately and reopen the Strait of Hormuz, citing a source familiar with the proposals.
The plan, prepared by Pakistan and delivered overnight to both parties, outlines a two-stage process involving an immediate ceasefire followed by negotiations toward a broader settlement.
The report stated that all elements of the proposal must be agreed upon by Monday.
Earlier, Axios reported that Washington, Tehran, and regional mediators were discussing a potential 45-day truce as part of a two-stage deal that could lead to a permanent resolution.
The rally came despite continued pressure from Donald Trump, who stated that Iran has until Tuesday evening to restore tanker traffic through the Strait of Hormuz or face strikes on strategic infrastructure.
Trump said the deadline expires at 8:00 PM ET and warned that Iranian power plants and bridges could become targets if the route remains restricted.
Investors were also assessing stronger-than-expected U.S. employment data released on Friday, which reinforced expectations that the Federal Reserve may keep interest rates higher for longer.
Crypto today: altcoins rise; Cardano jumps 6%
Most altcoins also posted strong gains on Monday amid improved risk sentiment.
The second-largest cryptocurrency Ethereum rose 4.8% to $2,135.92.
The third-largest cryptocurrency XRP gained 3.4% to $1.34.
Solana and Polygon each rose 3%, while Cardano jumped 6%.
Among meme tokens, Dogecoin rose 2%.
See also: "Bitcoin Reclaims $70,000 Amid Rally Driven by Middle East Ceasefire Hopes"
