Is This 45-Day Ceasefire Report Behind Bitcoin’s Price Jump on Monday?

The report added that this ceasefire deal could lead to a permanent end to the Iran war.

Following a highly uneventful weekend with little to no price action, bitcoin’s volatility returned on Monday morning after the numerous threats, and the asset jumped to $69,600 to mark a multi-day peak.

Perhaps the most evident reason behind this sudden increase came after an Axios report, cited by The Kobeissi Letter, which claimed that the US, Iran, and certain regional mediators are discussing a potential 45-day ceasefire that could “lead to a permanent end” to the war.

People familiar with the matter said this is regarded as a “last-ditch effort” to prevent “massive strikes on Iranian civilian infrastructure.”

Recall that Trump issued a stark warning that Iran needs to reopen the Strait of Hormuz by Monday, which was later extended (again) to Tuesday; otherwise, “all hell will reign down on them.” Moreover, he said Tuesday will be “Power Plant and Bridge Day,” which seemed to be the key infrastructure the US plans to attack next.

The new report added that mediators are discussing a two-phased deal – a potential 45-day ceasefire during which they would negotiate a complete end to the war.

It adds that Trump had given Iran several proposals in recent days, which remain unacceptable to the Iranian government. Additionally, the sources said the chances of reaching even a partial deal before the deadline expires tomorrow are “slim.”

https://twitter.com/KobeissiLetter/status/2041034164888072501?ref_src=twsrc%5Etfw” target=”_blank

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The effects on the financial markets were almost instant. Wall Street’s futures opened in the red, but erased all losses in minutes. Bitcoin stood sideways over the weekend at $67,000 but surged by over two grand to tap a multi-day peak at $69,600.

However, the question that arises now is what happens tomorrow when the deadline expires, and there’s no deal reached, as has been the case several times in the past. Will Trump extend the deadline (again) for the fifth time? Or will markets react to another massive attack against Iran?