Bitcoin saw significant gains on June 15 after reports emerged of a preliminary agreement between the United States and Iran to reopen the Strait of Hormuz. The cryptocurrency rose by over 3% during Asian trading hours, reaching an intraday high of around $65,600 as of 6:00 a.m. in London.
The news also had a positive impact on broader financial markets, with Asian equities rallying and S&P 500 futures climbing about 1%, according to Bloomberg.
Investors are eagerly awaiting the first meeting of the U.S. Federal Reserve this week under its new chair, Kevin Warsh. Markets expect a shift from an accommodative policy to a neutral or even tighter stance, which could have implications for the crypto market if not met with expectations.