Why Bitcoin briefly jumped above $70,000 on Iran deal hopes as Trump’s Hormuz threat keeps rally fragile

Bitcoin rose with the rest of the crypto market on Monday after President Donald Trump struck a mixed tone on a possible deal with Iran to reopen the Strait of Hormuz, prompting a relief rally that lifted prices but left the broader market setup unresolved. According to CryptoSlate’s data, the largest cryptocurrency briefly climbed above $70,000 before retracing to around $69,500. This had helped push the total crypt…