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A 45-day ceasefire plan and Strategy’s $330M Bitcoin purchase buoyed crypto markets.<\/p>\n
Crypto markets rallied on Monday as mediators submitted a 45-day ceasefire plan to the U.S. and Iran, while Michael Saylor’s Strategy resumed buying BTC after a weeklong pause.<\/p>\n
Bitcoin is trading at around $69,700, up 3.7% over the past 24 hours. ETH surged 4% to $2,150, while SOL climbed 2.5% to $82. Meanwhile, XRP added 3%.<\/p>\n Total crypto market capitalization rose 2.6% to $2.45 trillion, according to CoinGecko.<\/p>\n The broad-based rally came after Reuters reported<\/a> that Egyptian, Pakistani, and Turkish mediators submitted a proposal to the U.S. and Iran calling for a 45-day ceasefire and the reopening of the Strait of Hormuz, the vital shipping lane that carries about a fifth of the world’s oil and has been effectively closed since the war began<\/a> on Feb. 28.<\/p>\n President Donald Trump called the proposal “significant” but “not good enough”<\/a> at a White House Easter event on Monday. He has set a Tuesday 8 p.m. ET deadline for Iran to reopen the Strait or face strikes on its power plants and bridges.<\/p>\n Iran rejected<\/a> the temporary ceasefire, with state news agency IRNA reporting that Tehran sent a 10-point response through Pakistan demanding a permanent end to the war, a safe-passage protocol for the Strait, and the lifting of sanctions.<\/p>\n Despite the uncertain diplomatic backdrop, crypto markets responded to the mere existence of a framework for de-escalation, a dynamic that has repeatedly played out<\/a> since the conflict began.<\/p>\n The rally triggered $331 million in leveraged liquidations over 24 hours, affecting more than 83,000 traders, according to CoinGlass. Short positions accounted for roughly $268 million of the losses in the past 12 hours, adding fuel to the move higher.<\/p>\n Michael Saylor’s Strategy disclosed in a securities filing<\/a> Monday that it purchased roughly $330 million worth of Bitcoin between April 1 and April 5. The buy lifted the firm’s total holdings to 766,970 BTC at an aggregate cost of about $58 billion and an average price of roughly $75,644.<\/p>\n The purchase followed a one-week pause during which Strategy made no purchases or share sales. Strategy also disclosed a $14.5 billion unrealized loss for the first quarter as Bitcoin’s decline from its October all-time high pushed its holdings below the firm’s average cost basis. MSTR shares rose roughly 5% in early Monday trading.<\/p>\nStrategy Buys $330 Million of Bitcoin<\/h2>\n