Crypto markets saw a broad uptick on Monday, with Bitcoin (BTC), Ethereum (ETH), and XRP (XRP) posting modest gains after weeks of subdued price action. Bitcoin was trading around $69,137, up 3% in 24 hours. Ethereum climbed to $2,131, gaining nearly 4%, while XRP held near $1.33, up roughly 2% on the day.
The immediate catalyst for the rally appears to be geopolitical. Reports emerged Monday that the United States and Iran are discussing a 45-day ceasefire deal that could lead to a permanent end to hostilities. Regional mediators reportedly proposed a two-phase plan as a Tuesday deadline approaches. This marks the fifth deadline in 17 days, with previous extensions on March 21, 23, 26, and April 4 each producing brief market recoveries before tensions returned.
Adding context to the situation, former President Trump stated on Monday that he ordered strikes on Iranian bridges after Iran requested a five-day delay in direct negotiations, remarking, "I felt they were not being serious." Market experts are closely watching to see if this round of talks yields a genuine resolution or another postponement.
Underpinning the market strength is continued institutional demand. Spot Bitcoin ETFs absorbed approximately 50,000 BTC in March, representing the highest monthly pace since October 2025. Furthermore, Morgan Stanley received regulatory approval for a spot Bitcoin ETF this week, a move that connects roughly 16,000 financial advisors managing a combined $6.2 trillion in assets.
Markets face a busy week ahead with several potential volatility triggers, including the release of Fed meeting minutes on Wednesday, February PCE inflation data on Thursday, and ongoing developments in the Iran situation.
