Bitcoin holds above $70,000, but future direction hinges on Iran-U.S. 'talks'

Cryptos bounced on Trump’s five-day pause announcement, but the next move hinges on whether tensions between the U.S. and Iran ease or spiral, a Wintermute trader said. What to know : Bitcoin climbed above $70,000 and held most of its gains after U.S. President Donald Trump announced a five-day pause on strikes against Iranian energy infrastructure. Altcoins including ether, solana and dogecoin rose about 5%, while crypto-linked mining stocks rallied alongside broader equity markets, with the S&P 500 and Nasdaq each up roughly 1.2%. Analysts say bitcoin’s next move hinges on whether oil prices and shipping through the Strait of Hormuz stabilize, which could support another test of the $74,000 to $76,000 range, or worsen, potentially dragging prices back toward the mid-$60,000s.