Bitcoin’s price climbed to $69,165 on Monday, a 4.8% increase from a weekend low of $66,000, after a report that the U.S. and Iran are considering a 45-day ceasefire that could lead to an end of the conflict. The move suggests traders are cautiously optimistic that a de-escalation in the Middle East could improve market conditions for risk assets.
The proposal was detailed in a report from Axios journalist Barak Ravid, citing officials involved in the talks. The negotiations are being handled by a committee of regional intermediaries led by Pakistan, with both Turkey and Egypt also pushing for a solution to end the war, according to mediators cited by The Wall Street Journal.
The current 45-day proposal follows Tehran’s rejection of a U.S. offer for a 48-hour truce made last week, according to Iran's Fars news agency. Previous rounds of talks have stalled, with Iran demanding the U.S. pay reparations and withdraw from its bases in the Middle East. Mediators noted that talks had reached a "dead end" as recently as Friday.
A confirmed ceasefire would represent a significant de-escalation of geopolitical tensions, which have weighed on global markets. Such a development could decrease global risk aversion, potentially leading to renewed investor appetite for risk-on assets like cryptocurrencies. Should the negotiations fail, however, the renewed uncertainty could see Bitcoin surrender its recent gains.
This article is for informational purposes only and does not constitute investment advice.
