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Bitcoin climbed back above $75,000 as markets priced progress in cease-fire talks between Iran and Pakistan, even as a current two-week truce nears its Wednesday deadline. The rebound came alongside broader risk assets, but bitcoin continued to lag a global equity rally, with perpetual futures funding rates remaining negative.
Iran confirmed it will send a delegation to Pakistan for a second round of ceasefire talks. The two-week ceasefire expires Wednesday evening Washington time, and President Donald Trump said on Monday he is not likely to extend it, making the deadline the key catalyst traders are watching.
Early Tuesday, three vessels attempted transit through the Strait of Hormuz, where U.S. and Iranian blockades remain in place. The move is being treated as an early test of whether the waterway could open before any deal is signed.
Bitcoin was up 1.5% over 24 hours and 1.7% on the week, trading above $75,000. Ether rose 1.2% to $2,310, XRP gained 1.3% to $1.43, and BNB climbed 1.5% to $630. Solana was the only laggard in the top 10, up 0.9% on the day but down 1.1% on the week.
The MSCI All Country World Index resumed its rally after Monday’s pause, rising 0.1% as Asian equities led higher. The regional tech index advanced 2.4%. Brent crude fell 0.7% to $94.81 a barrel, gold slipped 0.6% to about $4,800, and silver dropped 1% to $78.90. Treasuries and the U.S. dollar were little changed.
Bitcoin has lagged equities through the current cycle. The MSCI ACWI is on an 11-day rally that stumbled only once since the conflict de-escalation began, while bitcoin has spent the same stretch rebuilding from below $74,000 to just above $75,000.
Funding rates on bitcoin perpetual futures have remained negative for about 46 consecutive days, according to Bloomberg data—described as the longest such run since the FTX collapse in late 2022. At the same time, spot demand has strengthened: net inflows into spot bitcoin ETFs rose to $996.4 million last week, per SoSoValue, while Ethereum spot ETFs took in $275.8 million.
Research firm Kaiko said a break above $76,000 would open a path toward $85,000.
Traders are also watching shorter-term triggers tied to the cease-fire headline flow. A move above $76,000 could prompt the short squeeze K33 flagged, while a failure to extend the truce could push bitcoin back below $74,000.
Mining activity is providing a separate signal. Public bitcoin miners sold a record 32,000 BTC in the first quarter, according to TheEnergyMag—more than in all of 2025 and above the 20,000 BTC miners dumped after the Terra collapse in Q2 2022.
Bitcoin’s mining difficulty fell 2.43% to 135.59 trillion at the latest adjustment, while network hashrate recovered from roughly 978 exahashes per second to 992 EH/s this month, according to Glassnode.
With miners selling at a record pace through a difficulty drop, the data suggests production economics remain compressed despite the price recovery. Any sustained rally above the $80,000 level would need to absorb continued selling from the same cohort, according to the article’s framing of the supply pressure.
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