Bitcoin Breaks $69,000, Iran Ceasefire Rumors Spark Risk-On
Bitcoin surged past $69,000 on Monday (April 6), driven by improved risk appetite following reports that Iran and the US had accepted a ceasefire framework that could potentially reopen the Strait of Hormuz as soon as today. The world's largest cryptocurrency was last up 3.4% at $69,065.9.
Reuters reported that the framework drafted by Pakistan envisions a two-phase process: an immediate ceasefire, followed by negotiations toward a broader settlement, with elements of the proposal said to need to be agreed on Monday. Axios previously reported discussions about a 45-day ceasefire as part of a two-phase deal that could lead to a permanent end to the conflict.
However, President Donald Trump continued to pressure Tehran with a Tuesday night deadline to restore tanker traffic in Hormuz, threatening attacks on strategic infrastructure if the route remains restricted. Markets also eyed stronger US payrolls data on Friday, which reinforced expectations that the Fed would hold interest rates high for longer.
Altcoins were evenly matched: Ethereum rose 4.8% to $2,135.92, XRP gained 3.4% to $1.34, Solana and Polygon each gained 3%, while Cardano surged 6%. Dogecoin rose 2%.
Source: Newsmaker.id
