The price of Bitcoin surged past $70,000 on Tuesday, following comments from President Donald Trump about a possible resolution to the war in Iran.

The world's largest cryptocurrency climbed 1.5% to around $70,055 as of 4 p.m. Eastern time, according to Dow Jones Market data, after earlier hitting a high of $70,562 over a 24-hour period. Ethereum, the second largest crypto, rose 0.8%, according to CoinDesk, while popular alt-coin XRP was also up 1.2%.

Crypto-related stocks were muted, however. Robinhood, a digital asset brokerage, closed down 1%, while Strategy — the largest corporate holder of Bitcoin — dipped 0.4%.

The lift in prices came after Trump signaled to CBS News reporter Weijia Jiang that the war in Iran is "very complete, pretty much," The Wall Street Journal reported. "They have no navy, no communications, they've got no Air Force," Jiang quoted Trump as saying in a post on X.

Those comments "helped ease market fears of a prolonged conflict that would turn into a more sustained energy shock," according to Deutsche Bank strategist Jim Reid.

The S&P 500 fell 0.2% on Tuesday. Stabilizing market conditions would be good news for risk-on assets such as Bitcoin.

Write to Alex Kozul-Wright at alexander.kozul-wright@barrons.com

This content was created by Barron's, which is operated by Dow Jones & Co. Barron's is published independently from Dow Jones Newswires and The Wall Street Journal.

source: https://www.tradingview.com/news/DJN_DN20260310002389:0/