Bitcoin pushed back above $74,000 late Monday, extending a sharp rebound as signs of tentative progress in U.S.–Iran talks eased some of the geopolitical pressure that rattled markets over the weekend.
The largest digital asset climbed 4.9% over the past 24 hours, recovering from an intraday low near $70,600 and briefly touching $75,150 in overnight trading before stabilizing around $74,800 in early Asian hours.
Ethereum and major tokens rally
Ethereum led major tokens higher, rising 7.9% to $2,365. The GMCI 30 index, which tracks the largest digital assets, advanced 4.9%, signaling a broad-based recovery across the crypto complex.
Among other large-cap tokens, XRP gained 3.2% to $1.37, while Solana added 4.9% to $85.97.
Derivatives data showed fresh capital entering the market. Open interest in bitcoin perpetual futures increased 6.2% to $34.5 billion, according to Coinglass, highlighting renewed risk appetite after the weekend sell-off.
U.S. crypto stocks track Wall Street rebound
The crypto rebound followed a stronger session in U.S. equities, where digital-asset-linked companies rallied alongside the broader market.
Circle shares jumped 12%, Bullish rose 7.5%, and Coinbase advanced 3.9%, extending gains established during the regular U.S. trading day.
Geopolitics and oil prices in focus
The market recovery came as tensions in the Middle East showed tentative signs of easing.
Vice President Vance said Monday that Washington had made progress in talks with Tehran and anticipated further developments toward reopening the Strait of Hormuz, a key chokepoint for global oil shipments. His comments coincided with a pullback in commodity prices after days of concern over supply disruptions.
Oil markets remained volatile. WTI crude dropped 2% to $96.8 per barrel after briefly touching about $105 on Sunday. Analysts said prices reflected shifting expectations about possible de-escalation in the region rather than a clear resolution.
The White House confirmed ongoing diplomatic contact with Iran despite an unsuccessful meeting in Pakistan over the weekend, and a second round of discussions is reportedly under review.
Naval blockade and limited tanker passage
President Trump’s directive imposing a naval blockade of the Strait of Hormuz took effect Monday, responding to Iran’s move to seal the waterway. Vance condemned Tehran’s action as “economic terrorism” and framed the blockade as a proportional response.
Satellite imagery from TankerTrackers indicated at least two oil supertankers had been cleared to pass through the naval cordon, lending support to Vance’s assertion that talks were advancing and that some oil flows were resuming.
The Strait of Hormuz handles nearly one-fifth of global oil shipments. Analysts said traders across energy and digital assets were watching shipping movements and diplomatic headlines closely for signs of either sustained improvement or renewed disruption.
Bitcoin technical levels and ETF flows
In crypto markets, attention remained centered on key technical levels between $70,000 and $75,000, an area traders view as an important support and resistance band for bitcoin.
Provisional data for Monday showed net inflows of about $215 million into U.S. spot bitcoin exchange-traded funds, marking a third straight day of positive flows after a stretch of sustained outflows last week. Analysts said those ETF inflows helped stabilize prices near the lower end of the recent range and contributed to Monday’s rebound.
Nick Ruck of LVRG Research said the durability of the current uptrend may hinge on whether ETF inflows persist and how they interact with broader economic conditions.
Macro risks and inflation data ahead
Market participants remain highly sensitive to macroeconomic and geopolitical risk, with the swift repricing on Monday suggesting traders are reacting rapidly to any sign of de-escalation in the Middle East.
The earlier weekend sell-off had been driven by fears of widespread energy supply disruption, underscoring how closely asset valuations are tied to expectations around global stability and energy logistics.
Attention now shifts to U.S. macro data. On Wednesday, the Producer Price Index is due, with economists at Wells Fargo forecasting a 0.3% month-over-month increase.
A higher-than-expected inflation reading could complicate the current recovery by refocusing attention on Federal Reserve policy and the path of interest rates, potentially creating fresh headwinds just as immediate geopolitical concerns show initial signs of easing.
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