Bitcoin kicked off the week with a surge above $71,000 before retracing, reflecting renewed market sensitivity to geopolitical developments between the U.S. and Iran. 

The leading cryptocurrency had traded below $68,000 over the weekend, leaving investors on edge as markets digested conflicting reports about peace talks in the Middle East.

Monday’s spike came after the U.S. President Donald Trump announced a five-day postponement of planned strikes on Iranian power plants, citing “very good and productive” conversations with Tehran on a “complete and total resolution” of hostilities. Within minutes of the announcement, 

Bitcoin jumped to an intraday high of $71,811, according to Bitcoin Magazine Pro, before easing back to…