Bitcoin rebounds on Trump’s mixed ‘hardline vs. talks’ signals… market cap up 2.5%

The cryptoasset (cryptocurrency) market, led by Bitcoin (BTC), rebounded following remarks on Iran by U.S. President Donald Trump.

According to Cointelegraph on the 6th (local time), the crypto market rose about 2.5%, lifting total market capitalization by roughly $70 billion to $2.44 trillion. Bitcoin at one point climbed intraday to around $69,500.

The rebound is seen as being influenced by the president’s conflicting messages. In a social media post, Trump took a hardline stance, warning that Iran would face “serious consequences” if the Strait of Hormuz is not reopened.

At the same time, however, he said in an interview that negotiations with Iran are under way and that a deal could be reached within 24 hours. Markets are viewing the move as reflecting both military tensions and diplomatic expectations.

Liquidation data also confirmed the short-term rebound. According to Coinglass, about $255 million worth of positions were liquidated over the past 24 hours, with roughly 73% coming from short positions.

As tensions in the Middle East become prolonged, oil prices continue to rise. International crude prices climbed to around $112 per barrel, raising concerns that this could add to inflationary pressures and fuel worries of a global economic slowdown.

Meanwhile, reports that negotiations are being discussed among the United States, Iran and mediating countries—including a 45-day ceasefire proposal—have kept market uncertainty elevated.