Crypto markets showed signs of recovery on Monday as Bitcoin, Ethereum, and XRP experienced modest gains after a period of relatively stagnant price movements. Bitcoin was trading around $69,137, reflecting a 3% increase over the past 24 hours. Ethereum rose to $2,131, marking a nearly 4% gain. Meanwhile, XRP was hovering near $1.33, up approximately 2% for the day.
The primary driver behind this uptick appears to be geopolitical developments. Reports surfaced indicating that the United States and Iran are engaged in discussions concerning a potential 45-day ceasefire deal, which could pave the way for a longer-term resolution to ongoing hostilities. Mediators in the region have proposed a two-phase plan as they approach a Tuesday deadline for negotiations. This marks the fifth deadline set within the last 17 days. Previous extensions, on March 21, March 23, March 26, and April 4, had led to brief recoveries in market activity, only for tensions to resurface soon after. Analysts are closely monitoring whether this latest round of discussions will yield a genuine resolution or another extension.
In a related development, President Trump provided further insights on the situation, revealing that he had ordered strikes on Iranian bridges after Iran requested a five-day delay in direct negotiations. Trump acknowledged feeling that Iran was not taking the negotiations seriously.
Institutional interest in the cryptocurrency market remains strong. March saw Spot Bitcoin ETFs absorb approximately 50,000 BTC, hitting the highest monthly uptake since October 2025, with an additional 44,000 BTC added during the same timeframe. Furthermore, Morgan Stanley obtained regulatory approval for a spot Bitcoin ETF this week, connecting approximately 16,000 financial advisors who manage a collective $6.2 trillion in assets.
Looking ahead, the markets are poised for a busy week filled with significant events that could influence sentiment. Key items on the agenda include the release of the Federal Reserve meeting minutes on Wednesday, February PCE inflation data on Thursday, and ongoing developments related to the Iran situation. Any of these factors could potentially shift market dynamics in either direction.
