Bitcoin reclaims $75,000 as Iran ceasefire talks advance, equities rally resumes
Bitcoin traded at $75,733 on Tuesday morning, up 1.5% over 24 hours, as Iran signaled it will send a team to Pakistan talks and Brent crude slipped ahead of the Wednesday ceasefire deadline.
What to know:
- Bitcoin climbed back above $75,000 as markets bet on progress in cease-fire talks between Iran and Pakistan, even as the current two-week truce nears its Wednesday deadline.
- Despite the rebound, bitcoin continues to lag a broad global equity rally, with negative funding rates in perpetual futures signaling persistent bearish positioning even as spot bitcoin and ether ETFs see strong inflows.
- Record selling by public bitcoin miners alongside a recent drop in mining difficulty suggests industry margins remain tight, raising questions about how sustainably prices can rise above the $76,000–$80,000 range without absorbing continued miner sales.
The MSCI All Country World Index resumed its rally after Monday’s pause, climbing 0.1% as Asian equities led the move higher and the regional tech index advanced 2.4%. Brent crude fell 0.7% to $94.81 a barrel, gold slipped 0.6% to about $4,800, and silver dropped 1% to $78.90. Treasuries and the dollar were little changed.
The two-week ceasefire expires Wednesday evening Washington time, and Trump said on Monday he is not likely to extend it. That deadline is what markets are now trading.
Three vessels attempted transit through the Strait of Hormuz early Tuesday with US and Iranian blockades still in place, the first test of whether the waterway is opening before a deal is signed.
Bitcoin has lagged equities through this entire cycle. The MSCI ACWI is on an 11-day rally that stumbled only once since the conflict de-escalated began, while bitcoin has spent the same stretch rebuilding from below $74,000 to just above $75,000. Part of that lag is structural.
