Cryptocurrency markets surged Monday after President Donald Trump announced a five-day pause on U.S. strikes against Iranian power plants, easing fears of a broader conflict.

However, Iran’s Fars news agency denied that any talks had occurred, fueling market uncertainty.

Bitcoin briefly climbed above $71,000, Ether, Solana, Dogecoin, and Chainlink all rose up to 5%, and gold rebounded to $4,440 per ounce, though gains partially reversed after the Iranian report.

Global bond yields fell, with the U.S. 10-year dropping to 4.3%, while WTI and Brent crude prices fell 11% and 8%, respectively, triggering $62.4 million in liquidations on tokenized Brent futures, Coin Desk has reported.

Despite the short-term rally, options data show traders remain cautious, pricing put options above calls for both bitcoin and Ether, signaling continued wariness of further market shocks.