Bitcoin gave up its weekend gains, slipping below $74,000 on Sunday after tensions flared between the US and Iran, putting a fragile ceasefire at risk.
BTC had surged past $78,300 late Friday on Coinbase — its highest level since early February — but pulled back to the $75,000–$76,000 range over the weekend after Iran signaled it could shut down key oil routes through the Strait of Hormuz.
The sell-off intensified late Sunday, with Bitcoin briefly dipping below $74,000 after the US military reported it had fired on and seized an Iranian cargo vessel accused of attempting to breach a blockade. Tehran, in turn, accused Washington of violating the ceasefire agreement.
The two-week ceasefire between the US and Iran — which had supported market sentiment and helped ease oil prices — is now due to expire on Wednesday, adding further uncertainty to global markets.
Tehran has vowed to retaliate following the US military’s seizure of the vessel and has pulled out of a new round of peace talks scheduled for Monday in Islamabad, citing the ongoing US blockade, according to Iranian state media.
US stock futures moved sharply lower Sunday night as tensions escalated, with S&P 500 futures down 0.8%, Nasdaq-100 futures off 0.6%, and Dow Jones Industrial Average futures falling 0.9%, or roughly 450 points.
Oil markets surged amid the geopolitical strain and Iran’s threat to shut the Strait of Hormuz, with crude futures jumping more than 4.5% to exceed $95 per barrel.
Meanwhile, the Crypto Fear & Greed Index edged up by two points to 29 out of 100 on Monday — its highest level since late January — though it still reflects an overall sentiment of “fear” in the crypto market.
