Bitcoin hits a two-week high above $65,500 as the US-Iran deal sends oil sliding
A peace agreement that reopens the Strait of Hormuz pulled the geopolitical premium out of oil and put back into risk assets.
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Summary
- Bitcoin rose about 2% to roughly $65,800, its highest level in nearly two weeks, after the United States and Iran reached a deal to end hostilities and reopen the Strait of Hormuz.
- The agreement eased energy-supply fears, sending Brent crude down more than 4% toward $83 a barrel and lifting global risk assets, including major cryptocurrencies and Asian stocks.
- Analysts say bitcoin’s rebound may be limited by ongoing concerns over institutional demand, including ETF outflows and recent sales by Strategy, even as the Iran-related risk premium fades.
