Bitcoin Price Rockets to $71,000 as Trump Orders Pause on Iran Strikes

Bitcoin's price experienced a significant increase, reaching $71,000 on Monday, rebounding from weekend lows. This surge followed Donald Trump's announcement of a pause in planned U.S. strikes against Iran, triggered by what he described as “very good” talks with Tehran. The move caused a broad relief rally across risk assets, with Bitcoin rising roughly 5%. Oil prices dropped, and some tankers cautiously resumed transit through the Strait of Hormuz, though full reopening remains crucial. While Iran denied direct dialogue, the market reacted positively to the reduced immediate threat of conflict. Interestingly, gold declined while Bitcoin remained strong, suggesting a shifting narrative where Bitcoin is increasingly seen as a hedge during macro uncertainty. Strategy also added to its Bitcoin holdings during the week.

(Source：Bitcoin Magazine)