Bitcoin climbed above $65,000 late Sunday after reports emerged that the U.S. and Iran have reached a peace agreement, easing geopolitical tensions that had been weighing on risk assets.
The bitcoin price rose 2.4% over 24 hours to $65,793, up from a weekend low around $63,600.
Reports of a deal
CNN reported Sunday that the two countries agreed to a peace deal set to take effect Friday.
President Donald Trump said the U.S. will lift its naval blockade and the Strait of Hormuz will reopen after the agreement is signed.
Dominick John, an analyst at Zeus Research, said:
“Markets are repricing risk after reports of a U.S.-Iran peace deal and the reopening of the Strait of Hormuz, triggering a broad risk-on move across assets. This move is driven by positioning and risk rotation rather than a shift in underlying fundamentals.”
Rick Maeda, head of markets at Laevitas, described the move as macro-driven relief amplified by thin weekend liquidity rather than anything crypto-native.
Oil drops, Asian equities surge
Crude oil prices fell over 4% to their lowest levels in more than three months, with WTI sliding to $80.77 per barrel and Brent dropping to $83.53.
Asian markets opened sharply higher Monday.
Japan’s Nikkei 225 jumped roughly 4.89% by midday, while South Korea’s Kospi surged 5.63%.
Fed meeting ahead
Traders are now watching for deal confirmation and concrete Hormuz terms, along with a heavy central bank week.
The Federal Reserve is set to meet under new Chair Kevin Warsh for the first time.
