Bitcoin Rallies Past $65K on US-Iran Deal, But Skepticism Persists

Bitcoin's price surged above $65,000 following President Trump's announcement of a deal with Iran, but investors remain skeptical about a lasting turnaround for the crypto market.

The move followed Trump's claim on Truth Social that he had made a 'Great Deal' with Iran and authorized the toll-free opening of the Strait of Hormuz. While this round of negotiations feels different, with Pakistan's prime minister confirming the deal independently before Trump's posts, investors are unlikely to fully price in a resolution until the signing in Switzerland happens on Friday.

'The relief rally in Bitcoin has already partially arrived,' said Markus Levin, Co-Founder of XYO. 'The move from the low $60,000s to around $65,800 recovers most of the geopolitical risk premium built up in recent weeks.'