TLDR
- Crypto markets rose 2.5%, adding $70 billion in total market cap, hitting $2.44 trillion
- Bitcoin touched $69,500 as Trump sent mixed signals on a potential Iran deal
- Trump threatened to attack Iran’s power plants if the Strait of Hormuz isn’t reopened by Tuesday
- Oil surged past $115 per barrel; US stock futures dropped around 0.8–1%
- A 45-day ceasefire is reportedly being discussed between the US, Iran, and regional mediators
Crypto markets jumped 2.5% on Monday as President Donald Trump sent conflicting messages about a potential deal with Iran over the Strait of Hormuz. Total crypto market cap climbed roughly $70 billion to reach $2.44 trillion, an 11-day high.
Bitcoin hit $69,500 on Coinbase during early Monday trading. The move triggered around $255 million in liquidations over 24 hours, with 73% of those being short positions, according to CoinGlass data.
Trump posted on Truth Social Sunday using strong language, warning Iran would be “living in Hell” if it doesn’t reopen the Strait of Hormuz. He gave Iran until Tuesday to act, threatening strikes on power plants and bridges.
JUST IN: 🇺🇸🇮🇷 President Trump threatens to blow up "everything" in Iran if a ceasefire deal is not reached soon.
"If they don't make a deal, I am blowing up everything over there." pic.twitter.com/pZk19CyONw
— BRICS News (@BRICSinfo) April 6, 2026
At the same time, Trump told Fox News that Iran is “negotiating now” and said there was a “good chance” of a deal within 24 hours. He also said he was considering “blowing everything up and taking over the oil” if no deal is reached.
A report from Axios said the US, Iran, and regional mediators are discussing a 45-day ceasefire that could end the war permanently.
Oil Prices Surge Past $115
Oil markets moved sharply higher on the news. Brent crude futures rose roughly 2.5% to trade above $111 per barrel Sunday night. West Texas Intermediate futures gained 3.1%, crossing $115 per barrel.
The Strait of Hormuz has been closed for over a month following the start of the war on February 28. Americans have spent an extra $240 million per day on fuel since then, according to The Kobeissi Letter.
If oil prices stay at current levels for another seven weeks, US Consumer Price Index inflation could rise to around 3.7%, the same source predicted.
Stock Futures Drop as Tension Rises
US stock futures fell at Sunday’s open. Futures on the S&P 500 dropped around 0.8%. Nasdaq 100 futures fell roughly 1%, and Dow Jones futures lost about 0.7%, or 340 points.
Futures moved off their lows closer to 8:15 p.m. ET Sunday.
The March jobs report, released Friday, showed the US economy added 178,000 jobs. The unemployment rate fell to 4.3%. US markets were closed Friday for Good Friday.
Many global markets, including those in the UK, Germany, France, and Australia, are closed Monday for Easter.
Investors are also watching for key US inflation data due Friday, along with earnings from Delta expected Wednesday.
The most recent market snapshot shows Brent crude trading around $109 per barrel as of early Monday morning.
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