Bitcoin price climbed sharply above $69K in early Asian hours on Monday amid a fresh diplomatic move to end the ongoing US-Iran war. Ethereum, XRP, Solana, Cardano, and altcoins also climbed amid reports of a potential 45-day ceasefire as President Donald Trump pushes the Iranian regime to open the Strait of Hormuz and press conference on Monday
Mediators Push New 45-Day Ceasefire Proposal as the US-Iran War Escalates
The US, Iran, and regional mediators are actively discussing terms for a potential 45-day ceasefire, Axios reported on April 6. This initial phase could serve as an effort to permanently end the US-Iran war, which has now stretched into its sixth week.
US stock futures and Bitcoin price climb as the US and Iran discuss a 45-day ceasefire and negotiations aimed at a lasting peace agreement. While skepticism remains high, regional mediators are optimistic as President Trump extended his deadline to strike Iranian energy plants to 8 pm ET on April 7.
Previous ceasefire attempts were rejected by Iran, with the Strait of Hormuz remaining closed. However, Trump said the U.S. is “in deep negotiations” with Iran and that a deal can be reached before his Tuesday deadline, with the US likely to exit the Iran war in 2-3 weeks.
“There is a good chance, but if they don’t make a deal, I am blowing up everything over there,” he added. Meanwhile, Iran threatened to retaliate with attacks against infrastructure in Israel and Gulf countries.
Oil prices slip from $115 to $111 at the time of writing, triggering Bitcoin price rebound. OPEC+ cautioned that strikes on energy infrastructure could worsen oil supply disruption even after the conflict subsides.
Meanwhile, White House Press Secretary Karoline Leavitt confirmed President Trump’s conference in the White House Briefing Room at 1 pm ET. He will talk about the latest rescue operation, likely mentioning the ceasefire and negotiation attempts.
Due to popular demand from the press, President Trump’s news conference tomorrow will now take place in the White House Briefing Room. 1PM ET. pic.twitter.com/A7DfXbZAxQ
— Karoline Leavitt (@PressSec) April 5, 2026
Bitcoin Price Rise Triggers Crypto Market Rebound
Bitcoin price surged more than 3% to reclaim above $69K today on US-Iran ceasefire discussions. This triggered a broader crypto market rebound, with a significant rise in Ethereum, XRP, Solana, and Cardano prices.
The bullish momentum triggered $65 million in short liquidations over the past 4 hours and almost $200 million in the last 24 hours, as per Coinglass data. However, a failure to reach an agreement could quickly reverse gains, despite technical charts and BTC options supporting a rebound.
The Strait of Hormuz remains a key focal point, with oil supply disruptions spiking energy costs and pressurizing risk assets. JPMorgan CEO Jamie Dimon said “It’s much more important that the Iran war be successfully completed, than what the market does.”
Currently, Bitcoin price is trading at $69,165. The 24-hour low and high are $66,610 and $69,527, respectively. Furthermore, trading volume has increased by 77% over the last 24 hours, indicating a rise in interest among traders.
CoinGlass data showed massive buying in the derivatives market. At the time of writing, the total BTC futures open interest jumped 5% to $49.53 billion in the last 24 hours. BTC futures OI on CME and Binance climbed almost 3% and 5.61%, respectively, signaling positive sentiment among derivatives traders.
