Bitcoin Pops Above $65,500 as US-Iran Deal Sends Oil Sliding

Bitcoin's price surged to a two-week high above $65,500 after the US and Iran reached a deal to end hostilities and reopen the Strait of Hormuz. The agreement eased energy-supply fears, sending Brent crude down more than 4% toward $83 a barrel and lifting global risk assets.

The token traded around $65,844 on Monday, up 2.1% over 24 hours, after touching a low near $63,722 in the early hours of Asian trading before the deal news broke. The move puts bitcoin about 9% above the sub-$60,000 low it hit last week.

Analysts say bitcoin's rebound may be limited by ongoing concerns over institutional demand, including ETF outflows and recent sales by Strategy, even as the Iran-related risk premium fades. Whether the institutional flows turn with the risk-on mood or whether bitcoin's recovery stalls once the Iran relief trade is fully priced remains to be seen.