Bitcoin Pulls Back Below $76,000 as Geopolitics Hit Risk Appetite

Key Moments

Bitcoin traded 1% lower at $75,127 by 09:33 ET (13:33 GMT), slipping from last week’s brief move above $78,000.
Rising U.S.-Iran tensions and a closed Strait of Hormuz drove a risk-off tone across markets, pressuring cryptocurrencies alongside U.S. stock futures.
Michael Saylor’s Strategy purchased 34,164 BTC for about $2.54 billion, bringing its total holdings to 815,061 BTC at an average cost of $75,527 per coin.

Bitcoin Softens as U.S.-Iran Tensions Intensify

Investing.com – Bitcoin eased lower on Monday, giving back part of its recent advance as traders reduced exposure to risk assets in response to rising tensions between the U.S. and Iran ahead of a ceasefire deadline.

The largest cryptocurrency was last down 1% at $75,127 by 09:33 ET (13:33 GMT).

Bitcoin had briefly moved above $78,000 last week, supported by expectations for a durable ceasefire and the potential reopening of key shipping lanes.

Geopolitics and Oil Rally Weigh on Risk Assets

The latest pullback followed a series of weekend developments, including the U.S. seizure of an Iranian-flagged cargo vessel and signals from Tehran that it may not join further talks.

The uncertainty has heightened concerns about renewed conflict, especially with the Strait of Hormuz remaining closed, constraining an important route for global oil flows.

These tensions pushed oil prices sharply higher and contributed to a wider risk-off move, with U.S. equity futures declining during Asian hours.

Digital assets, which frequently move in tandem with broader risk markets, came under pressure as investors shifted allocations toward more traditional safe-haven assets.

Analysts expect price swings in cryptocurrencies to stay elevated in the near term, with geopolitical headlines and oil market dynamics likely to play a central role in shaping direction.

Polymarket Reportedly Targets $15 Billion Valuation

Separately, prediction platform Polymarket is seeking to raise fresh capital, according to a report from The Information on Sunday that cited people familiar with the matter.

The company is reportedly in discussions to secure $400 million at a valuation near $15 billion.

These talks come amid mounting investor interest in prediction markets, which have experienced rising trading activity and growing participation from institutional players in recent months.

The report said Polymarket has been evaluating new funding options to scale its platform and reinforce its presence in the expanding event-driven trading segment.

If completed, the mooted valuation would represent a substantial step up from prior rounds and highlight robust demand for alternative venues that offer exposure to outcomes linked to real-world events.

Polymarket did not immediately respond to a request for comment on the report.

Strategy Adds Aggressively to Bitcoin Holdings

In corporate activity, Michael Saylor’s Strategy executed one of its largest Bitcoin purchases to date, according to a securities filing published Monday.

The company acquired 34,164 BTC last week at an average price of roughly $74,395 per token, for a total consideration of approximately $2.54 billion.

This latest transaction increases Strategy’s aggregate Bitcoin position to 815,061 BTC, accumulated for a combined $61.56 billion at an average cost of $75,527 per coin.