Cryptocurrency markets got a strong boost after optimism grew around easing tensions in the Middle East. This came after US President Donald Trump announced a temporary five-day pause on military strikes against Iran following what he called “productive” talks.
The news triggered a “risk-on” mood across global markets. The totalcrypto marketvalue jumped by nearly $60 billion within hours, while a sharp short squeeze wiped out over $269 million in bearish bets in a short time.
Bitcoin has also shown strong performance during this period. Since the start of the US–Iran conflict, it has gained around 7%, outperforming traditional assets like gold and the S&P 500, which have remained relatively subdued.
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On the regulatory side, the US Securities and Exchange Commission has submitted a proposed crypto framework to the White House. This could be an important step toward clearer rules for digital assets. According to Riya Sehgal, research analyst at Delta Exchange, this may help reduce long-standing uncertainty in the sector.
Bitcoin was trading 2.68% higher at $70,370, with a 24-hour trading volume of $49.49 billion. Over the past day, it has moved between $67,508 and $71,782, according to CoinMarketCap.
“Bitcoin is holding above $70,000 despite heightened volatility driven by US–Iran developments, signalling underlying strength in the market. The recent price spike on optimism around potential talks highlights how quickly sentiment can shift to the upside, with buyers stepping in aggressively on positive triggers,” said Avinash Shekhar, Co-founder & CEO, Pi42.
He added that even though markets have seen short-term pullbacks, Bitcoin has held key support levels well. “This resilience suggests that the current phase is more of a healthy consolidation rather than a sign of weakness,” Shekhar added.
From a technical point of view, as long as Bitcoin stays above $70,000, it could move higher toward $76,000 in the coming days or next week. “Importantly, ongoing accumulation by large players is providing a strong demand base, helping stabilise prices during dips and reinforcing confidence in the broader trend,” he said.
However, Sehgal pointed out that Bitcoin is still facing strong resistance between $71,500 and $72,000. “Despite the sharp rebound, derivatives positioning reflects continued caution, indicating that a sustained uptrend will likely require stronger confirmation from both macro stability and clearer regulatory direction,” she said.
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