Crypto Market Update: Bitcoin Rallies on Reports of Productive Middle East Talks

Here’s a quick recap of the crypto landscape for Monday (March 23) as of 9:00 p.m. UTC.

Get the latest insights on Bitcoin, Ether and altcoins, along with a round-up of key cryptocurrency market news.

Bitcoin (BTC) was priced at US$70,731.91, up by 3.7 percent over the last 24 hours.

Cryptocurrencies rose alongside equities after US President Donald Trump walked back earlier threats, saying he has ordered the military to postpone strikes against Iranian power plants and energy infrastructure following “productive” talks with ⁠Tehran. His comments also led to a decline in oil prices.

On Sunday (March 22), the president said the US would “hit and obliterate” Iranian power plants unless the Strait of Hormuz was reopened within 48 hours. Iran said it would retaliate against US and Israeli infrastructure and threatened to completely close the strait, sending Bitcoin below US$67,600 and liquidating US$980 million in long positions.

While prices are up at the market’s close, a funding rate of -0.003 and a relatively modest 0.57 percent rise in open interest over four hours suggest the rally is being fueled by the pain of bears, rather than the conviction of new buyers.

Ether (ETH) was priced at US$2,155.31, up by 4.5 percent over the last 24 hours.

Altcoin price update

• XRP (XRP) was priced at US$1.44, up by 3.8 percent over 24 hours.
• Solana (SOL) was trading at US$91.48, trading 5.3 percent higher over 24 hours.

Today’s crypto news to know

Nasdaq, Talos partner to bridge traditional and digital assets

Nasdaq (NASDAQ:NDAQ) and Talos announced a partnership to integrate Talos’ digital asset infrastructure with Nasdaq’s Calypso and Trade Surveillance platforms. Talos, a company that provides institutional-grade technology and data to investors, connects institutions to providers in the digital asset ecosystem through its platform.

By connecting Talos’s digital infrastructure with Nasdaq’s management and oversight platforms, the two companies are creating a single system where large investors can handle both types of assets simultaneously.

This integration allows firms to turn traditional assets into digital tokens that can be moved and tracked instantly. The partnership also introduces high-level security and monitoring tools to the digital space, ensuring that these new markets follow the same strict rules against fraud and manipulation as the traditional stock market.