Bitcoin rose above $71,000 on Tuesday as easing concerns over the Iran war improved sentiment across global markets. The move followed comments from US President Donald Trump, who said the conflict with Iran could end “very soon.” Bitcoin climbed as much as 3.1% to $71,770 before easing part of the advance.
Oil prices also fell sharply, while equities moved higher, giving digital assets room to recover after several volatile sessions.
Ether, XRP, and Solana also moved higher during the session. Ether gained as much as 2.2%, XRP rose as much as 2.8%, and Solana added as much as 1.9% before each token gave back part of its early rise. Bitcoin’s return above $71,000 marked its first move past this level in four days and placed the asset back near a closely watched psychological area for traders.
Investors responded quickly after Trump signaled a possible easing in the conflict. His remarks reduced immediate concern over a prolonged military crisis and a deeper shock to energy supplies. Stocks, currencies, and cryptocurrencies all moved higher as risk appetite improved. A calmer tone around the conflict helped Bitcoin recover from pressure seen earlier in the week.
Richard Galvin, co-founder of hedge fund DACM, said markets may read Trump’s comments as signaling a faster path to de-escalation. He also warned that fresh military action by the US, Israel, or Iran could quickly revive volatility. His remarks captured the mood across trading desks, where optimism returned but caution stayed firmly in place.
Bitcoin’s reaction drew added interest because the token had already shown relative resilience during recent market stress. As military action began on February 28, Bitcoin, oil, and broader financial markets experienced volatile prices without a deeper collapse. Tuesday’s rebound suggested many traders still see room for recovery when geopolitical pressure begins to ease.
Oil prices played a central role in Tuesday’s reversal. Brent crude fell more than 7% toward $91 a barrel after touching $119.50 on Monday. The war-driven jump had pushed prices to their strongest levels since 2022. The pullback eased inflation concerns and lowered pressure on assets tied closely to growth expectations and borrowing costs.
Crude had surged earlier on concern over supply disruption in the Middle East, including risks around shipments and export routes. Once fears eased, investors reassessed the near-term outlook for energy markets. Lower oil prices supported a broader improvement in sentiment and helped risk assets regain ground.
Even with the latest recovery, the broader backdrop is cautious. Bitcoin is more than 40% below its record high of above $126,000 set in October 2025. Volatility is also elevated, and options activity continues to show demand for downside protection.
Institutional positioning added another key layer to the market move. US spot Bitcoin ETFs recorded net inflows of $167 million on Monday, ending a short run of outflows. Fresh allocations into Bitcoin products suggested some investors used the recent pullback to rebuild exposure as the price returned toward the $70,000 area.
Flows into other crypto funds stayed weaker. Ether, XRP, and Solana products posted fresh outflows on the same day despite gains in their token prices. Ether funds recorded $51 million outflows, XRP funds lost $18 million, and Solana funds shed about $2.5 million, extending a three-day outflow streak. The contrast suggests institutions are returning to Bitcoin more quickly than to the rest of the crypto market.
Attention has now shifted to Bitcoin’s next major price levels. The $68,000 area is an important support zone after recent volatility, while $73,000 stands as the next major upside hurdle. A push above this level may improve the rally, although renewed tension in the Middle East could weigh on sentiment again.
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