Crypto markets shrugged off collapsing peace talks and surging oil prices, with BTC, ETH, and major altcoins posting gains.
Bitcoin climbed above $73,000 on Monday even as U.S.-Iran peace talks collapsed in Islamabad over the weekend and President Trump ordered a blockade of ships transiting the Strait of Hormuz en route to Iranian ports.
The largest cryptocurrency by market capitalization is trading at roughly $73,113, per CoinGecko, up about 2.8% over the past 24 hours. Ether gained approximately 2.5% to $2,254. The total crypto market capitalization increased 2% to $2.55 trillion, per CoinMarketCap, while Bitcoin dominance approached 60% for the first time since early March.
The geopolitical flare-up followed 21 hours of negotiations in Pakistan that ended without an agreement between the two sides. Trump announced the Hormuz blockade on Sunday, reportedly allowing passage only for ships bound for U.S. ally ports.
Oil prices briefly surged roughly 9% to $105 per barrel on the news, but have since settled to around $98.
Bitcoin open interest sat at $54.9 billion, per CoinGlass. Roughly $297 million in crypto positions were liquidated over the past 24 hours, with shorts bearing the brunt.
ETF Flows Turn Positive
Despite the geopolitical turbulence, U.S. spot Bitcoin ETFs posted a net inflow of $786 million last week, per SoSoValue, bringing total net assets to $95 billion.
U.S. spot Ethereum ETFs also saw $187 million in net inflows last week, with BlackRock’s ETHA contributing $168 million. Four ETH spot ETFs posted positive flows. Total ETH ETF net assets stood at $12.96 billion.
Altcoin Movers
RaveDAO (RAVE) was the standout performer, surging about 97% in 24 hours, capping a 1,000%+ weekly rally. Meanwhile, AAVE and Hyperliquid (HYPE) gained about 6%.
Among major altcoins, Solana gained 2.4% to $84, XRP added 1.3% to $1.35, and BNB rose 2.5% to $608, per CoinGecko.
On the downside, Polkadot’s DOT slipped 5% to $1.19 after a bridge exploit involving the Polkadot-Ethereum Hyperbridge gateway.
