Bitcoin Tops $70,000 on Optimism Over Possible Iran Ceasefire

Bitcoin jumped back above $70,000 Monday for the first time since March 25, as investors weighed reports that Iran was seeking a ceasefire in the ongoing war, even as US President Donald Trump escalated threats to attack civilian infrastructure.

The original cryptocurrency rose more than 3.5%, surpassing $70,200 before paring some gains. It stood just under $70,000 as of 10:35 a.m. in London. Ether, the second-largest digital asset, rose as much as 5.1%. Roughly $273 million of bearish bets were unwound for cryptocurrencies in the last 24 hours, according to Coinglass data.