Bitcoin rose to its highest level in nearly two weeks after the United States and Iran reached a deal to end hostilities and reopen the Strait of Hormuz, removing energy supply fears that had weighed on markets for months.
The token traded around $65,844 on Monday, up 2.1% in 24 hours, after hitting a low near $63,722 in the early hours of Asian trading before news of the deal broke, according to data from CoinDesk.
The move puts bitcoin about 9% above the low of less than $60,000 it hit last week, its weakest level since October 2024.
The demonstration was broad. Ether rose 2.5% to $1,721, Solana gained 3.6% to $71 and XRP added 3.2% to $1.19. Hyperliquid’s HYPE was the highlight, up 7.5% on the day to nearly $65. BNB and dogecoin added more than 1%.
Brent crude fell more than 4% to $83 a barrel as traders unwound the geopolitical premium that had kept oil elevated since late February. Asian stocks rose more than 3%, with Japan’s Nikkei 225 heading for a record close. S&P 500 futures rose 1.2%. The dollar fell against its main peers.
