Crypto markets edged higher early this week as betting markets priced in rising chances of a near-term agreement between the U.S. and Iran. The shift followed reports that Iranian negotiators had flown to Doha for renewed discussions.
Bitcoin rose 1.6% to about $77,500, while ether gained 1.4%. The total crypto market added roughly $75 billion. Among altcoins, NEAR Protocol surged nearly 15%, while Ondo Finance, Worldcoin, and Hyperliquid each advanced more than 10%.
CoinGlass data showed $369.41 million in liquidations. Shorts accounted for $295.95 million, while longs made up $73.47 million. Nearly 69,000 traders were liquidated, with the largest single position a $10.17 million BTCUSDT trade on Binance.
On Polymarket, traders raised the probability of a deal this month to 37%, up from 14% late last week. Odds stood at about 46% for early next month and 72% by late July, with total volume near $178 million.
The latest developments followed remarks from President Donald Trump on Truth Social over the weekend stating that the framework understanding was still pending final approval. Meanwhile, Iranian officials, including central bank chief Abdolnaser Hemmati, head negotiator Mohammad Bagher Ghalibaf, and Foreign Minister Abbas Araghchi, arrived in Doha for discussions mediated by Qatar and Pakistan.
Washington is demanding that Tehran dismantle three key nuclear facilities and relinquish its 440-kilogram stockpile of uranium. Iranian officials counter that nuclear terms were not part of the initial understanding and are instead pressing for sanctions relief, access to frozen funds, and an end to hostilities before formal nuclear talks proceed.
An Iranian source cited by Tasnim said release of frozen funds is a prerequisite for any agreement. Tehran is also seeking a 30-day administrative window related to the Strait of Hormuz and a 60-day period for nuclear talks. Trump has rejected proposals for a toll system in the waterway.
The Strait of Hormuz has faced disruption since strikes by Israel and the U.S. in late February, though shipping has partly resumed in recent days.
In broader markets, crude oil fell 5.4 percent to $91.30 per barrel. Gold rose 1.35 percent to $4,570 per ounce, while the U.S. dollar index slipped about 0.3 percent.
Trump maintained a conditional tone, saying any outcome would either produce a full agreement or none at all, and warning of a return to intensified confrontation if diplomacy collapses. Investors are now watching for additional signals from upcoming diplomatic meetings later this week.
Many crypto firms, such as BitFuFu Inc. (NASDAQ: FUFU), will also be following the developments in the Middle East and working out how crypto markets are likely to be affected in the near term.
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