TLDR
- Bitcoin steadied near $81,000 Monday after a weekend rally faded on renewed Iran tensions
- Trump rejected Iran’s peace proposal, calling it “totally unacceptable,” sending stock futures lower
- The U.S. Senate Banking Committee is set to hold a markup hearing for the Clarity Act on May 14
- The Clarity Act could ban bank-style passive yields on stablecoins but allow staking rewards
- Altcoins gained modestly, with XRP up 2.8% and Solana rising as much as 3.6%
Bitcoin traded near $81,000 on Monday as a weekend rebound lost steam. Prices climbed as high as $82,000 over the weekend but pulled back by early Monday, with Bitcoin up just 0.2% at $80,833.
The pullback came as geopolitical tensions rose after President Donald Trump rejected Iran’s latest peace proposal. Trump called the response “totally unacceptable” in a Truth Social post over the weekend.
"I have just read the response from Iran’s so-called 'Representatives.' I don’t like it — TOTALLY UNACCEPTABLE! Thank you for your attention to this matter." -President DONALD J. TRUMP pic.twitter.com/MIQDS9Ujjy
— The White House (@WhiteHouse) May 10, 2026
Iran had submitted a revised proposal calling for an end to the conflict and the removal of U.S. sanctions. It also demanded the U.S. lift its naval blockade before any nuclear deal could move forward.
Iran rejected U.S. calls to dismantle its nuclear operations. The country also pushed for a shorter suspension of its uranium enrichment activities, widening the gap between the two sides.
Israeli Prime Minister Benjamin Netanyahu added to tensions, saying the war was not over and leaving open the possibility of further military action against Iran.
U.S. Crypto Regulation Moves Forward
While geopolitics weighed on prices, there was some positive news on the regulatory front. U.S. Senators are preparing a session to consider the Clarity Act, a bill aimed at building a legal framework for crypto.
The Senate Banking Committee has scheduled a markup hearing for May 14. If the committee approves the bill, it will head to a full Senate vote in early June.
Lawmakers are working toward a compromise on stablecoin yields. The current proposal would ban bank deposit-style passive interest on stablecoins but allow rewards tied to active transactions and staking.
The Clarity Act is designed to give the crypto industry more legitimacy in U.S. markets. The bill has been in a long-running stalemate, and this hearing marks a step forward.
Stock Futures Slip on Iran News
U.S. stock futures dipped early Monday following a strong performance last week. Dow Jones futures fell 0.2%, while S&P 500 futures edged down 0.1%.
Last week, both the S&P 500 and Nasdaq Composite closed at record highs. The April jobs report beat expectations, with nonfarm payrolls rising by 115,000 against a forecast of 55,000.
Investors are now watching inflation data due this week. April consumer and producer price reports will show whether rising oil prices are feeding into broader inflation.
Earnings reports are also due Monday from Fox, Barrick Mining, and Constellation Energy.
Broader crypto markets held up despite the uncertainty. Ether rose 0.4% to $2,337.56, XRP gained 2.8% to $1.4580, and BNB, Solana, and Cardano rose between 0.7% and 3.6%.
Among memecoins, Dogecoin rose 1.3% while $TRUMP fell 0.3%.
Markets are also watching a high-level U.S.-China summit later this week, which could further shape investor sentiment heading into the second half of May.
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