Bitcoin jumps following Trump saying he will postpone strikes on Iran
After dipping to a two-week low, bitcoin rallied to break $71,000 Monday as traders turned optimistic over the conflict in the Middle East.
Bitcoin jumped 3.7% on Monday morning following President Trump’s comments about delaying strikes on Iran’s power plants and energy infrastructure, citing “constructive conversations.” Iran denied the talks, but that didn’t stop bitcoin from crossing $71,000, reversing an earlier downturn that saw the asset hit a two-week low of $67,000.
Kyle Rodda, senior financial analyst at Capital.com, told Sherwood News that $60,000 remains the key support level in the short term, and to feel more confident in a reversal, we would need to see a really decisive break above $74,000, “which looks like a tall task right now.”
Bitcoin is also resting just below its 200-week exponential moving average, which, historically, “have been phenomenal regions to add if leaning bullish,” Pratik Kala, portfolio manager and head of research at Apollo Crypto, told Sherwood.
“We saw a whiff of the momentum behind BTC when risk was coming back on last week, as it rallied ~12% before giving it back. If the war seems to be coming to a conclusion, I think BTC will rally the hardest based on the tape over the past few weeks,” Kala said.
Another positive sign for bitcoin is the sustained flows into bitcoin ETFs, which registered their fourth consecutive week of inflows last week, a stark contrast from ethereum, solana, and XRP ETFs, according to SoSoValue, and reflecting continued institutional interest.
Steady ETF inflows have helped bitcoin navigate the geopolitical tensions better than gold and equities, as they act as “a safety net, no full-blown panic selling, just folks positioning carefully and expecting more sideways grinding or minor bounces in the $65K–$75K zone,” Andri Fauzan Adziima, research lead at Bitrue, told Sherwood.
Adziima also said that the vibe feels cautious to bearish in the short term, and key levels to watch are whether bitcoin holds above $67,000 to $68,000 to keep things looking OK structurally.
“If it slips under $65K, we could see a quicker drop toward $60K–$62K. On the upside, getting back over $69K–$70K would flip the mood more positive and open the door to $72K+. This week should stay choppy and range-bound with macro headlines and geopolitics driving swings, nothing screaming big upside yet without clearer relief, so the cautious play feels right,” he said.
Other experts said that we are at a critical point for crypto traders, as geopolitical developments and uncertainty will continue to dictate bitcoin’s narrative in the short term.
Stephen Wundke, strategy and revenue director at Algoz Technologies, told Sherwood that bitcoin going lower than $65,000 would put $60,000 into play.
“However, traders are unsure which way this goes, and yet again, that is directly down to President Trump. If he decides to escalate and stay the longer course in this war, then we may well break to the lower side,” Wundke said.
