Bitcoin nears $76K as fresh Iran talks reports lift crypto markets

Bitcoin rose more than 1% on Tuesday morning, nearing $76,000 after opening the week with strong momentum.

The largest crypto asset by market cap climbed from around $70,000 toward $74,000 on Monday, then briefly topped $76,000 early Tuesday before retracing to about $75,200 by press time.

The move came alongside fresh developments in the US Iran conflict. New reports said US officials are considering possible dates and locations for a second in person meeting with Iranian officials before the ceasefire expires next week. Iranian state media, however, said no decision has been made on another round of talks.

Both sides have reportedly proposed a suspension in Iranian uranium enrichment, but officials have not yet agreed on the duration of the moratorium. The US is also seeking the dismantling of Iran’s major nuclear enrichment facilities and the immediate reopening of the Strait of Hormuz.

The headlines helped lift crypto markets broadly. Bitcoin was up 5% over the past 24 hours, leading gains among major tokens. Ether rose more than 6% to $2,370, Solana gained 3.5% to $86.40, and XRP advanced 2.8% to $1.37. RAVE remained the biggest winner in the market, rising 64% over the past 24 hours and more than 6,000% over the past week, while most of the broader crypto market also traded in the green.

The move also triggered a wave of liquidations across crypto derivatives markets. More than $660 million in positions were liquidated over the past 24 hours, including over $536 million in short liquidations and more than $126 million in long liquidations, mainly across Bitcoin and Ether futures, according to CoinGlass data.

Traditional markets moved higher as well. The S&P 500 rose 0.8% and the Nasdaq gained 1.2% on Tuesday morning. Metals also advanced, with gold up 1% near $4,800 and silver climbing 4.5% toward $80, reflecting a broader move higher across risk assets and commodities.

The rebound has also brought Michael Saylor’s Strategy close to break even on its Bitcoin holdings. The company holds more than 780,000 $BTC acquired at an average price of about $75,577 per coin, according to Strategy’s Bitcoin purchases website.

With Bitcoin trading near those levels at press time, Strategy’s $BTC position has returned to roughly break even territory after falling underwater when Bitcoin dropped below $75,000 in early February. Two months later, the firm’s Bitcoin stash is once again nearing an unrealized profit.