Bitcoin surged after the United States and Iran disclosed a peace agreement that will reopen the Strait of Hormuz, lifting pressure on global energy markets.
Price Surge
Trading platforms recorded Bitcoin near $65,759, reflecting a 2.2 % gain over the previous 24 hours. The cryptocurrency touched a daily high of approximately $65,893, marking its strongest level in almost two weeks. This rally reversed a dip that saw Bitcoin slip below $60,000 earlier in the week.
Market Ripple Effect
Following the diplomatic announcement, Brent crude fell more than 4 % and settled around $83 per barrel, erasing much of the premium that had kept oil prices elevated since late February. Lower energy costs eased inflation concerns, prompting Asian equities to climb and U.S. stock futures to rise as the dollar weakened. Investors in the crypto sector welcomed the news, viewing the reduced geopolitical risk as a boost for blockchain assets.