Bitcoin rose on Tuesday, extending gains from the prior session as the prospect of de-escalation in the U.S.-Israel war on Iran helped boost risk-driven assets.
But the crypto traded well below intraday highs after Iran denied that it had engaged in talks with the U.S., while hostilities in the Middle East showed few signs of easing.
Bitcoin was also supported by top corporate holder Strategy outlining plans to buy more of the crypto. The world’s largest crypto rose 1.9% to $70,214.7 by 01:09 ET (05:09 GMT).
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Iran denies de-escalation talks with Washington Senior Iranian officials denied that they had engaged in talks with the U.S., contradicting statements from President Donald Trump on “productive” discussions with Tehran.
Hostilities between Iran and Israel also showed few signs of cooling on Tuesday amid reports of continued strikes between the two and other Gulf countries.
Still, media reports showed some Asian and Gulf countries relaying messages between the U.S. and Iran.
Contrasting signals on the Iran war left markets uncertain over how the conflict will play out, with oil prices rebounding sharply on Tuesday.
Markets feared that a prolonged surge in oil prices would drive up global inflation, in turn eliciting hawkish moves by global central banks. Such a scenario bodes poorly for speculative, non-yielding assets such as Bitcoin and gold.
But the world’s largest crypto has fared relatively better than gold since the onset of the Iran war, with the yellow metal having logged deep losses on profit-taking and the bursting of a speculative bubble.
Strategy unveils $42 bln capital raising plan to buy more Bitcoin Strategy Inc (NASDAQ:MSTR) on Monday unveiled a new $42 billion at-the-market equity program to raise capital and buy more Bitcoin.
The plan will be split between a $21 billion common stock and $21 billion preferred stock offering, with the added option of raising $2.1 billion through a preferred series stock.
The company also disclosed the purchase of 1,031 Bitcoin over the past week, bringing its total stockpile to 762,099 coins.
Strategy is the largest corporate holder of Bitcoin, with its latest capital plans expected to offer more buy signals for the crypto.
But the company has faced increasing investor scrutiny in recent months over the long-term prospects of its Bitcoin buying strategy. Shares of the firm are down 12% so far in 2026.
Crypto price today: altcoins track Bitcoin gains Broader crypto prices largely rose in tandem with Bitcoin, with focus squarely on any de-escalation in the Iran war.
World no.2 crypto Ethereum rose 2.9% to $2,129.90, while XRP rose 1.5% to $1.4121.
Solana and Cardano rose over 3% each, while BNB lagged, falling 0.6%.
