Bitcoin (BTC-USD) rose above $71,000 on Monday after U.S. President Donald Trump ordered a blockade of the Strait of Hormuz, following the breakdown of ceasefire negotiations with Iranian officials.
The move heightened geopolitical tensions in a region critical to global trade, influencing market sentiment and driving volatility across risk assets. Bitcoin initially surged as traders reacted to the news, with short positions being squeezed amid thin liquidity conditions.
At the same time, broader crypto markets also saw gains, with Ethereum and other digital assets moving higher as investors repositioned at the start of the week. Despite recent fluctuations, Bitcoin has largely remained within a range between $65,000 and $75,000 in recent weeks, showing relative stability compared to traditional markets during periods of geopolitical stress.
Meanwhile, Market Catalysts host Julie Hyman breaks down the latest movements in cryptocurrencies and analyzes how crypto-related stocks are performing as trading opens for the week.