Bitcoin Hits Two-Week High Above $65,500 as US-Iran Deal Eases Oil Fears
Bitcoin rose about 2% to approximately $65,800 on Monday, its highest level in nearly two weeks, after the United States and Iran reached a peace agreement to end hostilities and reopen the Strait of Hormuz. The deal alleviated energy-supply fears, causing Brent crude to slump over 4% toward $83 a barrel and boosting global risk assets, including major cryptocurrencies and Asian stocks. Ether gained 2.5% to $1,721, Solana rose 3.6% to $71, and XRP added 3.2% to $1.19. The rally was broad, with Hyperliquid's HYPE surging 7.5%. However, analysts caution that bitcoin's rebound may be limited by ongoing concerns over institutional demand, including ETF outflows and recent sales by Strategy. The deal's full text has not been released, but its contours had been circulating for days. Last week, bitcoin fell below $60,000 amid dual pressures from Iran tensions and higher interest rate expectations. The peace deal reverses that dynamic but does not address lingering demand-side issues in crypto markets.
Key facts
- Bitcoin rose ~2% to $65,844 after US-Iran deal to reopen Strait of Hormuz.
- Brent crude fell over 4% toward $83 a barrel as energy fears eased.
- Ether, Solana, XRP and HYPE all posted gains of 2-7.5%.
- Analysts flag ETF outflows and Strategy sales as limiting factors.
- Bitcoin had fallen below $60,000 last week amid dual pressures.