Bitcoin surges as Iran-US deal boosts market sentiment
Bitcoin climbed to its highest level in nearly two weeks after the United States and Iran announced an agreement to end hostilities and reopen the Strait of Hormuz, easing concerns over global trade disruptions and boosting investor confidence, reports a Qazinform News Agency correspondent.
The world's largest cryptocurrency rose nearly 3% in early Asian trading on Monday, reaching around $65,400. Ether gained as much as 3.7% to $1,731, while smaller digital assets, including Solana and XRP, posted even stronger advances.
The rally followed a turbulent period for crypto markets, during which Bitcoin briefly fell below $60,000 amid concerns over outflows from exchange-traded funds and selling pressure linked to Strategy, the largest corporate holder of Bitcoin.
Risk appetite improved after U.S. President Donald Trump said on social media that a peace agreement with Iran was "now complete" and that Washington would end its blockade of the Strait of Hormuz, a key global shipping route.
The announcement also lifted broader markets, with Asian stocks advancing and S&P 500 futures gaining about 1%, while Brent crude oil dropped more than 4%.
Analysts said investors are now turning their attention to this week's U.S. Federal Reserve meeting, where any signal of higher interest rates could weigh on cryptocurrencies and other risk assets.
Earlier, Qazinform News Agency reported that U.S. President Donald Trump announced on June 14 that a peace agreement with Iran had been reached, authorizing the reopening of the Strait of Hormuz to global shipping and the removal of the U.S. naval blockade on Iranian ports. A formal signing ceremony is expected to take place in Switzerland later this week.
