Bitcoin Breaks Through $65K as US-Iran Tensions Ease

Bitcoin (BTC) has climbed above the $65,000 psychological resistance level, reaching as high as $66,800 after a 4.9% surge in the past 24 hours.

The upward momentum is largely attributed to the US-Iran ceasefire memorandum and the reopening of the Strait of Hormuz, which have eased geopolitical tensions.

Google searches for 'crypto' and 'Bitcoin' skyrocketed following the announcement, although they dropped later in the day.

Despite the positive sentiment, the overall crypto market remains cautious, with altcoins failing to outperform Bitcoin. The total market capitalization stands at $2.28 trillion, 47% down from its peak of $4.27 trillion reached on October 5, 2025.