- Bitcoin topped $85,000 as hopes for U.S.-Iran talks accompanied broader crypto gains.
- Crypto market capitalization rose 3.69% to $2.9 trillion as Bitcoin and Ether gained.
- Crypto liquidations hit $1.36 billion, with shorts accounting for roughly 57.7%.
Bitcoin surged above $85,000 as hopes for U.S.-Iran talks accompanied a broader crypto rally ahead of Iranian President Masoud Pezeshkian’s United Nations visit.
The advance coincided with rising stocks, easing oil prices and falling global bond yields on Monday, although renewed threats from Washington and Tehran complicated the diplomatic outlook.
Iran’s UN Visit Draws Market Attention
Pezeshkian will lead Iran’s delegation on Tuesday and address the General Assembly. His remarks will cover international developments, particularly Iran’s war with the United States and Israel.
He also plans to meet several national leaders during the assembly, scheduled for September 22–26 and September 28. Meanwhile, U.S. President Donald Trump has shown an openness to meeting Pezeshkian, raising expectations for possible discussions.
Those expectations accompanied gains across financial markets. However, Trump also threatened to destroy Iran’s economy or eliminate its leadership unless Tehran reaches an agreement, leaving uncertainty around any diplomatic opening.
Bitcoin and Ethereum Lead Broader Gains
Against that backdrop, total crypto capitalization rose 3.69% to $2.9 trillion. Bitcoin gained 4.46% to $85,297.19, while Ethereum advanced 2.56% to $2,723.88.
Bitcoin surged by 10.95% over the week, with a market capitalization of $1.71 trillion and daily trading volume of $60.5 billion. Ethereum’s weekly gain reached 10.21%, alongside $24.68 billion in trading volume.
XRP recorded the strongest daily increase among the leading cryptocurrencies, climbing by 5.44% to $1.51. BNB followed with a 2.13% increase to $784.58.
Liquidations Rise as Regional Risks Persist
Derivatives activity expanded alongside prices, with trading volume up 73.27% to $1.28 trillion and open interest up 2.2% to $456.72 billion.
The CoinMarketCap data reported approximately $1.36 billion in liquidations. Shorts accounted for $787.88 million, compared with $578.03 million for longs, representing roughly 57.7% of the combined breakdown.
Bitcoin’s rally reflects improving risk sentiment, but geopolitical uncertainty remains a key variable. Diplomatic signals from the UN meetings could shape near-term market direction, especially if U.S.-Iran talks progress. For now, crypto markets are responding to optimism, even as underlying tensions continue to linger.
Related: How the US Plans to Stop Iran From Using Crypto to Evade Sanctions
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