Bitcoin's price surged above $77,000 on Monday, reaching $77,444 after a weekend dip to $74,346.5. This rebound is largely attributed to optimism surrounding a potential peace agreement between the U.S. and Iran, which could stabilize oil shipments through the Strait of Hormuz. Broader financial markets also showed signs of recovery, with global equities rising as fears of prolonged conflict eased. However, caution remains as U.S. President Donald Trump indicated there is 'no rush' to finalize any deal. Additionally, the cryptocurrency market received a boost from the Nasdaq PHLX's conditional approval from the U.S. Securities and Exchange Commission to list cash-settled Bitcoin index options, pending further approval from the Commodity Futures Trading Commission. This development is seen as a significant step towards mainstream adoption of cryptocurrencies by traditional financial institutions. In contrast, most altcoins remained subdued, with Ethereum and XRP experiencing slight declines.