Bitcoin rises after Trump points to delay in Iran strikes

Core Viewpoint - Bitcoin's price increased significantly following US President Trump's announcement to postpone military strikes on Iranian energy infrastructure, reflecting a positive market reaction to geopolitical developments [1][4]. Group 1: Bitcoin Market Reaction - Bitcoin rose as much as 5.2%, trading around $71,400 on Monday morning in New York [1]. - Prior to this rise, Bitcoin had been fluctuating around a two-week low, dropping to $67,371, its lowest since March 9 [2]. - Smaller cryptocurrencies like Ether and Solana also experienced price increases alongside Bitcoin [1]. Group 2: Geopolitical Influence - Geopolitical news has significantly influenced market sentiment, alleviating recent pessimism [4]. - Trump's comments about positive discussions with Iran initially boosted stock prices, with the S&P 500 opening up 1.5% [4]. - However, gains were moderated after Iranian media denied any contact, indicating the volatility of market reactions to geopolitical events [4]. Group 3: Market Flows and Future Outlook - Inflows into US exchange-traded funds linked to Bitcoin turned negative, indicating weakened support for Bitcoin's price [5]. - Analysts suggest that a de-escalation in the Middle East or a return to normal traffic through the Strait of Hormuz could stabilize markets [5]. - Without such developments, the cryptocurrency market is expected to remain under pressure [6].