Bitcoin Surges Past $65K as US-Iran Peace Deal Eases Market Fears

Bitcoin broke above $65,000 on Sunday after reports of a US-Iran peace agreement eased market concerns. The deal is set to take effect on Friday, according to CNN.

The bitcoin price rose 2.4% over the past 24 hours, reaching $65,793 from its weekend low around $63,600.

Analyst Dominick John at Zeus Research attributed the move to 'risk rotation' rather than a shift in underlying fundamentals, adding that markets are repricing risk after the peace deal reports.