Bitcoin climbed back above $70,000 on Monday for the first time since March 25, as investors reacted to reports that Iran may be seeking a ceasefire in the ongoing war, despite escalating threats from US President Donald Trump.

Bitcoin declined after US President Donald Trump signaled tougher military action against Iran in the coming weeks, dampening expectations of a swift end to the conflict and weighing on risk assets.

Cryptocurrencies fell sharply on Monday as risk assets slipped and safe-haven demand rose following US President Donald Trump’s proposal of new tariffs on eight European countries.

Bitcoin (BTC-USD) climbed to a three-week high on Monday, breaking through a key technical level as digital assets began to mirror gains seen in stocks and precious metals.

Bitcoin tumbled to below $86,000 on Monday as cryptocurrencies experienced a sharp decline, reigniting a broad market selloff that had recently shown signs of stabilizing.

Coinbase Derivatives has announced that it plans to introduce round-the-clock futures trading for bitcoin (BTC) and ether (ETH) in the United States.

Cryptocurrencies took a hit as fears of a selloff in US equities overshadowed President Donald Trump’s recent efforts to support the industry.

Cryptocurrencies bitcoin and ether dropped to multi-month lows on Tuesday, caught up in a general cross-market sell-off, and as traders continued to process last week's hack of $1.5 billion worth of ether from cryptoexchange Bybit.