Bitcoin Soars Above $69k Amid Reports of Iran-US Ceasefire

Bitcoin's price has reached a new milestone, climbing above $69,000 on Monday after reports of a potential ceasefire between Iran and the US.

The world's largest cryptocurrency rose 3.6% to $69,281 by 10:14 ET (14:14 GMT), as investors became more optimistic about the prospects for a peaceful resolution to the conflict in the Middle East.

The news of a potential ceasefire came from Reuters, which reported that Iran and the US had received a plan to end hostilities. The plan, assembled by Pakistan, outlines a two-tier process involving an immediate ceasefire followed by negotiations towards a broader settlement.