Bitcoin Surges to $66,800 as U.S.-Iran Peace Deal Boosts Crypto Markets

Crypto markets surged after the U.S. and Iran reached an agreement to halt the war and reopen the Strait of Hormuz, easing a key macro pressure point.

The deal sent Bitcoin trading around $66,800, up nearly 4% on the day, while Ethereum reclaimed its level above $1,800 for the first time in 10 days, rising close to 10%. The rebound also spread into large-cap altcoins, with XRP up almost 9% near $1.24 and Cardano gaining more than 12% near $0.188.

The rally followed a sharp shift in the geopolitical backdrop, with markets reacting to the immediate drop in escalation risk, lower oil stress, and the prospect of shipping resuming through one of the world's most important energy routes.

Zcash and NEAR Protocol led the altcoin catch-up, rising 23% and 17% respectively over the past day as traders moved back into high-beta crypto assets.