Bitcoin Rebounds to Near $66K on US-Iran Deal

Bitcoin rebounded to near $66K on Monday after the US and Iran confirmed a memorandum of understanding to end their war, sparking a risk-on rally in global markets. The deal includes an immediate halt to hostilities and a commitment to reopen the Strait of Hormuz within 30 days.

The announcement triggered a broad rotation towards risk assets, with S&P 500 futures rising +1.20% in Asian trade, Brent crude dropping -4.51% to $83.39, and altcoins such as XRP, Solana, and Cardano gaining between +3% and +4%.

Despite the rally, Bitcoin's recovery from its June 5 annual low near $59,100 remains uncertain, with analysts flagging the 50% Fibonacci retracement from the January high to the February low at $78,962 as meaningful overhead resistance.