BTC nears $69k as Trump extends Iran strike pause

• Donald Trump announced a 10-day extension of the pause on strikes against Iran's energy infrastructure, citing progress in diplomatic negotiations.
• Bitcoin (BTC) stabilized and rose to just above $69,000 following the news, recovering from a session low where it had dropped by 3%.
• Macroeconomic pressures remain high as the U.S. 10-year Treasury yield climbed to 4.43%, leading to speculation about potential Federal Reserve rate hikes.

Diplomatic Developments and Market Reaction

U.S. President Donald Trump provided a brief respite for global markets by announcing a continuation of the pause on attacks against Iran. In a statement posted on Truth Social, Trump confirmed that at the request of the Iranian government, he would delay strikes on energy facilities for another 10 days. He noted that diplomatic discussions are currently "going very well."

Prior to this announcement, the cryptocurrency market faced significant selling pressure. Bitcoin managed to regain approximately 1% from its lowest point of the day, moving back above the $69,000 mark. Other major digital assets also saw a modest bounce from their daily lows, including:

• Ether (ETH)
• XRP (XRP)
• Solana (SOL)
• ADA

Despite this recovery, most major altcoins remained down between 3% and 5% over the previous 24-hour period.

Broader Economic Instability

The slight recovery in crypto comes amidst a volatile backdrop for traditional finance. The Nasdaq fell 2.4% on Thursday, marking a correction of roughly 10% since its yearly peak in late January. While rising oil prices have dominated headlines, the situation in the bond market is causing deeper concern for investors.

The yield on the U.S. 10-year Treasury, which was under 4% just a few weeks ago, surged to 4.43% before slightly retreating to 4.41%. This rapid increase has effectively ended expectations for near-term Federal Reserve interest rate cuts. Instead, market participants are now beginning to hedge against the possibility of a rate hike by the central bank. Similar trends in rising yields and hawkish central bank expectations are also being observed across Western Europe.