Investing.com-- Bitcoin fell below the $75,000 mark on Monday, retreating from recent gains as investors turned cautious amid escalating tensions between the U.S. and Iran ahead of a ceasefire deadline.
The world's largest cryptocurrency last traded 0.7% lower at $74,756.6 by 03:09 ET (07:09 GMT).
Bitcoin had briefly climbed above $78,000 last week on hopes of a sustained ceasefire and reopening of shipping routes.
US-Iran tensions escalate ahead of ceasefire expiry
The decline came after a series of geopolitical developments over the weekend, including the U.S. seizure of an Iranian-flagged cargo ship and Tehran's indication it may not participate in further negotiations.
The situation has raised fears of renewed conflict, particularly as the Strait of Hormuz remains shut, a key artery for global oil shipments.
Rising tensions pushed oil prices sharply higher and triggered a broader risk-off move, with U.S. stock futures also falling in Asian trading.
Cryptocurrencies, which often trade in line with risk assets, came under pressure as investors rotated into traditional safe havens.
Analysts expect volatility to remain elevated in the near term, with geopolitical developments and oil price movements likely to dictate crypto market direction.
Polymarket is in talks to raise funding at $15 bln valuation - The Information
Prediction market platform Polymarket is in talks to raise $400 million at a valuation of about $15 billion, The Information reported on Sunday, citing people familiar with the matter.
The discussions come amid growing investor interest in prediction markets, which have seen a surge in trading volumes and institutional participation in recent months.
Polymarket has been exploring new capital to expand its platform and strengthen its position in the fast-growing event-based trading space, the report said.
The potential valuation would mark a sharp increase from earlier funding rounds and underscores strong demand for alternative trading platforms tied to real-world outcomes.
Polymarket did not immediately respond to a request for comment on the report.
Crypto price today: altcoins remain upbeat, Ether jumps over 4%
Most altcoins also edged lower on Monday amid a cautious mood.
World no.2 crypto Ethereum lost 1.3% to $2,285.63.
World no. 3 crypto XRP edged down 0.4% to $1.41.
Solana eased 0.5% lower, while Cardano and Polygon traded largely unchanged.
Among meme tokens, Dogecoin also traded flat.