Bitcoin Surges to $65,500 as US-Iran Peace Agreement Eases Macro Risks

A breakthrough in Iran-US relations has led to an agreement that includes the immediate removal of the US Navy blockade and the reopening of the Strait of Hormuz without toll charges. This development has eased one of the biggest macro risks weighing on crypto markets, causing Bitcoin to surge from around $64,000 to above $65,500 within hours of the announcement.

According to US President Donald Trump, negotiations with Iran have concluded and resulted in an agreement facilitated by Pakistan and Qatar. Markets reacted quickly, with Bitcoin extending gains after US inflation data provided an additional boost.

The latest US Consumer Price Index report showed headline inflation at 4.2% on an annual basis, while core CPI rose 0.2% during the month, below the estimated 0.3%. This relief offered investors who had worried about stubbornly high inflation.