According to Invezz, the crypto market wavered on Monday morning as traders resumed a risk-on stance on hopes of a breakthrough in the US–Iran standoff. Bitcoin traded just under the $77,000 level, while the overall market capitalization of digital assets remained essentially unchanged near $2.56 trillion.
Within the broader pullback and rebound, a handful of tokens stood out on the upside. DeXe token jumped more than 24% in the last 24 hours, while Humanity Protocol (H), Venice Token (VVV), Morpho (MORPHO) and Ondo rose by more than 5%. The gains came amid chatter that a deal to reopen the Strait of Hormuz could be part of broader negotiations between the two countries, a development that would likely influence energy prices and inflation dynamics.
Key takeaways
- Bitcoin remained below $77,000, with the total crypto market cap around $2.56 trillion.
- DeXe led the top movers, up over 24%, with several other tokens gaining more than 5% in the past 24 hours.
- Trading activity cooled: 24-hour volume fell about 22% to roughly $60 billion, the lowest in months, while futures open interest slid roughly 1.1% to about $124 billion.
- Liquidations contracted sharply, down about 70% to $221 million, suggesting a more cautious positioning even as select tokens moved higher.
- Market sentiment tethered to headlines on a potential US–Iran deal and economic implications for energy prices; investors also awaited key US macro data later in the week.
What drove the move
The price action in crypto mirrored a broader shift in risk appetite tied to ongoing headlines about possible rapprochement between the United States and Iran. Media reports described a framework under which the US would end its blockade on Iranian ports in exchange for Iran re-opening the Strait of Hormuz, potentially accompanied by a 60-day ceasefire aimed at advancing negotiations on Iran’s nuclear program. If confirmed, such a deal could ease energy-price pressures and, by extension, inflation concerns that have weighed on markets in recent months.
Even if the headlines were positive, investors remained wary about fully pricing in any agreement. President Trump’s stance has been non-committal at times, and his public comments have momentum-dependent implications in a high-stakes negotiation. Some of Trump’s closest allies criticized the deal as potentially empowering Iran, underscoring the degree of political risk around any settlement. As a result, traders were inclined to await an official announcement before altering broader risk exposure, even as a portion of the market rotated into risk-on assets.
On the energy front, the market also registered a reaction to evolving oil prices. Brent and West Texas Intermediate (WTI) sank below $100 per barrel in the wake of the headlines, a move that could help ease inflation concerns and support discretionary spending if sustained. The price path of crude remains a watch point for both macro traders and crypto investors, given the link between energy costs and risk sentiment.
Beyond the headlines, mechanics of the crypto market pointed to caution. Volume fell 22% in the 24-hour window to about $60 billion, the lowest in months, while futures open interest declined by more than 1% to around $124 billion. Bitcoin’s open interest slipped 1.75% and Ethereum’s decreased 1.30% in the same period. A handful of tokens — Hyperliquid (HYPE), Zcash (ZEC) and Binance Coin (BNB) — showed gains in open interest, signaling some interest in hedges and liquidity across different protocols.
Another sign of cautious positioning came from the liquidation data, which collapsed about 70% to $221 million. Liquidations typically reflect the forced closing of leveraged bets after price moves, so a drop in liquidations can indicate less aggressive leverage being deployed at present. Within today’s environment, bullish liquidations tied to positions in Ethereum and Bitcoin were modest, with amounts around $70 million and $58 million respectively cited in the latest readings.
Market activity for crypto on Monday was also shaped by the holiday calendar in major markets. US Memorial Day and a UK bank holiday were expected to suppress volumes, limiting the magnitude of moves in the near term.
Bigger picture
Looking ahead, crypto traders will likely calibrate positions to incoming macro data that could influence central-bank policy expectations. Key indicators on the calendar include US consumer confidence readings on Tuesday, followed by the personal consumption expenditures price index (PCE) and gross domestic product (GDP) figures on Thursday. Analysts say these numbers will feed into assessments of inflation trajectories and the Federal Reserve’s policy path, which in turn influence risk assets including crypto.
From a market structure perspective, the current configuration suggests a wait-and-see moment rather than a broad, sustained rally. The decline in volume and open interest indicates that traders are not yet expressing conviction in a sustained uptrend, even as select tokens register outsized intra-day moves. Investors will be watching for a clearer signal on whether the US–Iran negotiations progress to the point of official confirmation, and how that translates into energy pricing, inflation expectations, and Fed communications.
For now, DeXe, Humanity Protocol, Venice Token and a handful of other tokens are leading the gains, while bitcoin and the broader market tread carefully. As always in crypto markets, even modest headlines can pivot sentiment, but the current data point to a cautious, data-driven approach as traders await clarity on both geopolitical and macro fronts.
The detailed notes and numbers referenced above come from Invezz reporting on crypto-market activity and the unfolding geopolitical backdrop. For the most recent context and related coverage, readers can refer to Invezz’s ongoing updates.
Upcoming coverage and analysis will continue to track whether a formal US–Iran agreement emerges, how energy prices react, and what that implies for crypto liquidity, volatility and risk appetite in the near term. In the meantime, investors should monitor the macro calendar closely and gauge how any official statements might alter the current cautious stance across digital-asset markets.
