Bitcoin and XRP prices rose on Monday after media reports indicated that the United States and Iran are close to reaching a ceasefire agreement that could ultimately end the ongoing war. Bitcoin reached $70,000, while XRP slightly increased to $1.35.

Reopening the Strait of Hormuz would be a positive factor for Bitcoin and digital currency prices.
According to Axios and Reuters, Iranian and American officials have held in-depth negotiations aimed at ending the ongoing war that has resulted in thousands of deaths.

Reports suggest that countries, including Israel, will agree to a 50-day ceasefire, which could lead to ending the war. This agreement would halt fighting and reopen the Strait of Hormuz, through which 20% of the world's total crude oil passes.

Data from the Polymarket platform shows that the probability of traffic through the strait returning to normal in April has increased to 16%, the highest since last Friday. Although this is an improvement, it indicates that most traders expect the strait to remain closed for a much longer period.