Bitcoin Steadies Above $69K as Trump Pauses Iran Energy Strikes

Bitcoin recovered from session lows Thursday after President Donald Trump announced a 10-day extension on the pause of U.S. attacks targeting Iranian energy infrastructure, offering brief relief to rattled financial markets.

Trump shared the update on Truth Social, stating the ceasefire extension came at Iran's request while diplomatic negotiations remain active. "The talks are ongoing and going very well," he wrote, signaling a temporary de-escalation in the Middle East conflict that had spooked global investors earlier in the day.

Prior to the announcement, Bitcoin had slipped roughly 3% amid a broader market selloff that also dragged the Nasdaq down 2.4%. The tech-heavy index has now fallen approximately 10% from its late-January peak. Following Trump's remarks, Bitcoin rebounded about 1% from its lowest point, climbing back above the $69,000 mark. Other major cryptocurrencies including Ethereum, XRP, Solana, and Cardano also pared losses, though each remained 3% to 5% lower over the prior 24-hour period.

While surging crude oil prices have dominated financial headlines since hostilities escalated, the more pressing concern for markets may be the sharp movement in bond yields. The U.S. 10-year Treasury yield, which had dipped below 4% just weeks ago, spiked as high as 4.43% on Thursday before settling near 4.41%. The move effectively wiped out market expectations for Federal Reserve rate cuts and stoked speculation that the central bank could instead begin hiking interest rates — a significant shift in monetary policy outlook.

Similar yield increases and hawkish central bank repricing are unfolding across Western Europe, amplifying concerns about tightening global financial conditions. Investors are watching closely as geopolitical uncertainty continues to cloud the broader economic outlook, with cryptocurrency markets remaining especially sensitive to macroeconomic and geopolitical developments.