Bitcoin edged higher after U.S. President Donald Trump extended a pause on attacks against Iran’s energy infrastructure, helping stabilise markets following a broad sell-off.
The cryptocurrency had fallen more than 3% alongside a 2.4% drop in the Nasdaq, as the Iran conflict pushed oil prices higher and triggered a sharp rise in global bond yields.
Bitcoin later recovered modestly to trade just above $69,000, reflecting a partial rebound after Trump announced a 10-day pause to allow ongoing diplomatic talks.
“As per Iranian Government request… I am pausing the period of Energy Plant destruction by 10 Days,”
Trump said, adding that negotiations are progressing and “going very well.”
The market reaction comes as the U.S. 10-year Treasury yield climbed as high as 4.43%, up from below 4% just weeks ago, signalling tighter financial conditions and rising inflation concerns.
Higher yields have also shifted expectations from potential Federal Reserve rate cuts to possible rate hikes, further weighing on risk assets including cryptocurrencies and equities.
Other major tokens including Ether, XRP, Solana and Cardano also rebounded from session lows but remained down between 3% and 5% over the past 24 hours, underscoring continued market pressure.
At the time of reporting, Bitcoin price was $68,791.85.