By Derek Hwang
Bitcoin rebounded above the $77,000 mark on Monday after sliding toward $74,000 over the weekend, supported by hopes for a U.S.-Iran agreement and by news of advancing institutional access to crypto derivatives.
The world's largest cryptocurrency was last recorded trading 0.6% higher at $77,444.0 at 02:48 ET (06:48 GMT). The token had fallen to a low of $74,346.5 on Sunday before recovering.
Traders said market sentiment improved as signs emerged that talks aimed at ending the nearly three-month conflict in the Middle East were showing movement. That helped calm concerns about prolonged disruption to crude shipments through the Strait of Hormuz, a key artery for global oil flows, and supported broader financial markets.
Global equity indices rallied and oil prices continued to retreat on the prospect that shipping could return toward normal volumes if an agreement is reached. Nonetheless, caution persisted after U.S. President Donald Trump indicated over the weekend that there was "no rush" to conclude a deal with Iran. The U.S. blockade around the Strait of Hormuz also remained in place, which tempered expectations of an immediate breakthrough.
Market participants continued to monitor developments tied to Iran's uranium stockpile and the future status of the Strait, both of which remain material to oil market stability and, by extension, to investor risk appetite across asset classes.
Crypto markets additionally received support from regulatory progress on derivative products. The U.S. Securities and Exchange Commission granted conditional approval to Nasdaq PHLX to list cash-settled Bitcoin index options under the ticker QBTC, subject to final approval from the Commodity Futures Trading Commission.
The proposed contracts would follow the CME CF Bitcoin Real Time Index and settle in U.S. dollars rather than in physical Bitcoin. That structure allows investors to access the instruments through conventional brokerage accounts without needing separate crypto-derivatives arrangements.
Each contract is planned to represent exposure to one Bitcoin, a size materially smaller than the CME's standard five-Bitcoin contracts. That reduced contract unit may broaden accessibility for retail traders and smaller institutional participants, and represents a further step toward integration of digital assets into traditional trading channels.
Altcoins were mostly subdued on Monday. Ethereum slipped about 1% to $2,106.50, while XRP edged down roughly 0.4% to $1.36. Solana eased 0.6%, and both Cardano and Polygon fell by more than 1% each. Among meme tokens, Dogecoin dipped approximately 0.3%.
Overall, the late-weekend developments around geopolitics and the conditional regulatory nod for a Nasdaq options product combined to lift bitcoin back toward the mid-$70,000s, even as lingering uncertainties kept sentiment measured.