Bitcoin Jumps to Near $66K on US-Iran Peace Deal

Bitcoin (BTC) surged to near $66,000 after the US and Iran confirmed a memorandum of understanding to end their war. 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 risk-on rotation, with S&P 500 futures rising +1.20% in Asian trade, Brent crude dropping -4.51% to $83.39 amid relief over Hormuz supply, and altcoins such as XRP, Solana, and Cardano gaining between +3% and +4%.

Bitcoin's recovery from its June 5 annual low near $59,100 has covered approximately $6,700 over ten sessions, with Monday's print at $65,809 representing the strongest close in that window. The current bid needs to establish a daily close above $66,440 to confirm that the band is now functioning as support rather than overhead supply.

However, the net outflows of $315.8M from spot Bitcoin exchange-traded funds last week suggests a structural demand challenge that a single geopolitical catalyst is unlikely to change quickly. The Crypto Fear & Greed Index sits at 20/100, deep in Extreme Fear territory.