Investing.com– Bitcoin rebounded above $77,000 on Monday after tumbling close to $74,000 over the weekend, aided by optimism surrounding a possible U.S.-Iran peace agreement and growing institutional adoption of cryptocurrency derivatives.
The world’s largest cryptocurrency last traded 0.6% higher at $77,444.0 by 02:48 ET (06:48 GMT).
Bitcoin recovered after slipping to as low as $74,346.5 on Sunday.
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Traders weigh Iran peace deal prospects
Broader financial markets steadied after signs that talks aimed at ending the nearly three-month Middle East conflict were making progress, easing fears of prolonged disruption to oil shipments through the Strait of Hormuz.
Global equities rallied while oil prices extended declines on hopes that shipping flows could normalize if an agreement is reached.
Still, sentiment remained cautious after U.S. President Donald Trump said over the weekend that there was “no rush” to finalize a deal with Iran, and the U.S. blockade around Hormuz remained, tempering expectations of an imminent breakthrough.
Investors have been closely tracking developments around Iran’s uranium stockpile and the future reopening of the Strait, a vital route for global crude flows.
SEC conditionally approves Nasdaq crypto options plan
Crypto markets also drew support from news that Nasdaq PHLX received conditional approval from the U.S. Securities and Exchange Commission to list cash-settled Bitcoin index options under the ticker QBTC, pending final approval from the Commodity Futures Trading Commission.
The proposed contracts will track the and settle in U.S. dollars rather than physical Bitcoin, allowing investors to trade the instruments through traditional brokerage accounts without opening separate crypto derivatives accounts.
Each contract will represent exposure to one Bitcoin, significantly smaller than CME’s standard five-Bitcoin contracts, potentially widening access for retail and smaller institutional investors.
The move marked another step toward mainstream adoption of digital assets by traditional financial institutions.
Crypto price today: altcoins remain subdued
Most altcoins remained range-bound on Monday.
World no.2 crypto fell 1% to $2,106.50.
World no. 3 crypto edged down 0.4% to $1.36.
eased 0m.6%, while Cardano and declined over 1% each.
Among meme tokens, slipped 0.3%.