Time to think things through, President Trump postpones Iran attacks, Bitcoin jumps to 71K

Bitcoin rose on Monday, rebounding from losses in Asian trading after U.S. President Donald Trump said Washington would postpone planned attacks on Iran’s power plants.

Bitcoin jumped 4.1% to $71,060.0 by 07:34 ET (11:34 GMT) after plunging to $67,363 earlier in the session.

The world’s largest cryptocurrency came under pressure last week as speculative assets were battered by growing uncertainty over how the Iran war will impact global inflation and interest rates.

Trump pauses planned Iran strikes for five days after talks

Crypto prices rose on Monday after U.S. President Donald Trump signaled a pullback in planned strikes against Iran.

In a Truth Social post, Trump said the two sides had held “very good and productive conversations” aimed at a “complete and total resolution” of tensions in the Middle East.

He added that strikes on Iran’s infrastructure would be delayed for five days.

The decision came after Iran warned it could target Israel’s power plants and facilities supplying U.S. bases across the Gulf if Washington attacked its energy network.

Before the announcement, Bitcoin was trading in the red amid a broader downturn in risk-driven assets, with stocks, currencies, and gold also falling on Monday.

U.S. President Donald Trump said on Saturday that Iran had 48 hours to reopen the Strait of Hormuz or face U.S. strikes on critical energy infrastructure.

Tehran responded by threatening to completely close the Strait, and that it would also attack key energy and water infrastructure in Gulf countries as retaliation for U.S. aggression.