Bitcoin on sidelines as markets surge on Iran peace hopes
Markets rallied on Iran peace hopes, sending the Nasdaq up 1.4% while oil prices and bond yields opened the week sharply lower after President Trump’s weekend announcement of an imminent Middle East agreement. Bitcoin on sidelines as markets surge on Iran peace hopes: Bitcoin (BTC) was trading around $76,800, down nearly 1% over the past 24 hours, while Ethereum, Solana and XRP were similarly lower. Investors shifted toward AI-related trades and were eyeing mega‑IPOs such as SpaceX and OpenAI.
A significant reduction occurred in Bitcoin’s supply when 107 BTC were transferred to a “burn address” (burn address), making them irretrievable. This movement reduces the Bitcoin network’s supply by 107 BTC. Timechain Index founder Sani noted this transaction on X, suggesting a link to coins associated with Mt.Gox. The ultimate supply cap for Bitcoin is limited to 21 million coins, emphasizing the impact of even small reductions. Sani’s observation highlights the reduction of available Bitcoin in circulation, aligning with cryptocurrency’s finite supply structure.
Bitcoin (BTC) was trading around $76,800, down nearly 1% over the past 24 hours. Ethereum (ETH), Solana (SOL) and XRP (XRP) registered comparable declines over the same period. These price moves occurred as broader markets rallied on Iran peace hopes, with the Nasdaq up 1.4% in Tuesday morning trade. Oil prices and bond yields opened the week sharply lower after President Trump’s weekend announcement of an imminent Middle East agreement. Investors were shifting toward AI-related trades and were eyeing mega‑IPOs such as SpaceX and OpenAI.
In a notable market surge, the Nasdaq experienced a 1.4% rise in Tuesday morning trading. This growth was accompanied by a significant 17% increase in Micron Technology’s stock price. The surge followed UBS’s move to raise its price target for Micron to $1,625, a leap that more than doubled the company’s closing price from the previous Friday. Additionally, Micron’s stock has seen an impressive year-over-year increase, exceeding 800%. These developments reflect broader investor optimism linked to Iran peace hopes and anticipated technological advancements.
Investors are shifting focus toward AI-related trades, reallocating attention toward companies and technologies tied to artificial intelligence as market participants adjust positions. They are also eyeing high-profile prospective mega‑IPOs, notably SpaceX and OpenAI, as potential opportunities for placing new investments.
