Bitcoin Surges Above $65,500 as US-Iran Peace Deal Boosts Market Confidence

Bitcoin rallied to its highest level in nearly two weeks after the United States and Iran reached a deal aimed at ending hostilities and reopening the Strait of Hormuz. The cryptocurrency rose about 2.1% over the past 24 hours, trading near $65,844 after briefly falling to around $63,722 earlier in the day.

The latest move places Bitcoin roughly 9% above the sub-$60,000 low recorded last week, highlighting a sharp improvement in market sentiment.

Crypto Market Gains as Oil Prices Fall

The rally extended across the broader digital asset market. Ether gained 2.5% to $1,721, Solana advanced 3.6% to $71, and XRP climbed 3.2% to $1.19.

At the same time, Brent crude oil dropped more than 4% toward $83 per barrel as traders reduced the geopolitical risk premium that had supported energy prices for months. Global equity markets also moved higher, with Asian stocks gaining more than 3% and U.S. stock futures advancing.

Institutional Demand Remains Key

The peace agreement eased concerns that rising oil prices could fuel inflation and keep interest rates elevated, a factor that had pressured risk assets. However, investors continue to watch institutional demand closely. Recent Bitcoin ETF outflows and concerns following Strategy’s sale of 32 BTC to fund preferred share dividends remain important factors that could influence the next phase of the market’s recovery.