Bitcoin tops $70,000 as US pauses Iran strikes

Bitcoin nears $71,000 as Trump pauses Iran strikes for five days.

The price of the leading cryptocurrency jumped 3.4% to near $71,000. US President Donald Trump announced a five-day pause in strikes on Iran.

At the time of writing, digital gold is trading around $70,900.

Ether rose 6% to $2,200. BNB, XRP and Solana added 3-4%.

Liquidations on the crypto market hit $374 million in the past hour and topped $782 million over 24 hours.

Trump wrote that the US and Iran had “very good and productive talks” on resolving the Middle East conflict.

“Based on the nature and tone of these deep, detailed and constructive talks, which will continue this week, I have directed the Department of Defense to postpone strikes on Iranian power plants and energy infrastructure for five days, subject to the success of ongoing meetings and discussions,” the US president added.

Iran denies Trump’s claim

US financial commentator Walter Bloomberg, citing Iran’s Tasnim agency, said there were no talks. Tasnim called Trump’s statement “psychological warfare”.

*IRAN’S TASNIM: THERE HAVE BEEN NO TALKS, THERE ARE NO TALKS

*IRAN’S TASNIM NEWS CALLS TRUMP COMMENT PSYCHOLOGICAL WARFARE

— *Walter Bloomberg (@DeItaone) March 23, 2026

According to Reuters, Tehran’s Fars agency also denied that discussions had taken place. The reporters added that Israel said it would continue strikes on Iran.

According to the administration of Iranian president Masoud Pezeshkian’s Telegram channel, the Foreign Ministry clarified that the country is currently negotiating only with Oman on shipping through the Strait of Hormuz.

Omani foreign minister Badr al-Busaidi confirmed his country is “actively working” on the issue, adding:

“The initiator of this war is not Iran.”

On March 21, the US president announced the “destruction” of Iran’s energy infrastructure if the country did not open the Strait of Hormuz to all vessels within 48 hours. In response, Iran’s Revolutionary Guard threatened strikes on Israel’s power plants and on infrastructure at US bases in the Persian Gulf.

The crypto community responded with irony.

Dad, I’m long $100M.

Tell the market ”Iran and you have good talks.”

Thanks. pic.twitter.com/EWsJwTq2hJ

— Crypto Rover (@cryptorover) March 23, 2026

“Dad, I went long $100 million. Tell the market that you and Iran had good talks. Thanks,” users joke.

The Evolution of Trading pic.twitter.com/O6V6AXUSFv

— Barchart (@Barchart) March 23, 2026

Stock-market reaction

Broader markets rose. S&P 500 futures gained almost 2%, forming a “God candle” on the chart.

JUST IN 🚨: S&P 500 $SPY God Candle 📈📈📈 pic.twitter.com/zdJ3uZQwb6

— Barchart (@Barchart) March 23, 2026

Brent crude, however, plunged more than 14% at one point to $96 a barrel, Bloomberg reported. European gas prices fell in tandem.

Gold almost fully erased morning losses, bouncing to $4,440 per ounce. The DXY dollar index slipped to 99.1.

On March 23, oil and silver on Hyperliquid overtook Solana and XRP by trading volume.