Bitcoin climbed above $80,000 for the first time in over three months, as Asian equities edged closer to record highs.

Markets are reacting to conflicting signals over Iran.

United States President Donald Trump said the United States would begin escorting non-involved vessels through the Strait of Hormuz, while a senior Iranian official warned that any U.S. intervention in the waterway would be treated as a violation of the ceasefire, according to an AFP report.

Meanwhile, Bitcoin climbed above $80,000 for the first time in more than three months.

The cryptocurrency previously hit a record high of just over $126,000 in October last year before sliding for several months to around $60,000 in February.

It has since recovered steadily, supported in part by stronger institutional demand, with U.S. Bitcoin exchange-traded funds recording $630 million in net inflows on Friday.

Optimism that a U.S. agreement could be reached on a key stablecoin yield provision, potentially unlocking broader crypto legislation in the Senate, has also boosted market sentiment, according to Richard Galvin, executive chairman of crypto investment firm DACM.

He noted that while it is “early days,” the $80,000 level has acted as a significant psychological barrier.

Bitcoin trimmed some of its gains and was trading just above $80,000 as of 7 a.m. in London on Monday.