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, allaying energy supply fears that had weighed on markets for months.
The token traded around $65,844 on Monday, up 2.1% over 24 hours, after hitting a low near $63,722 in the early hours of trading in Asia before the deal was announced, according to CoinDesk data.
The move puts bitcoin about 9% above the low of $60,000 it hit last week, its lowest level since October 2024.
The rally 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 a standout, up 7.5% on the day to near $65. BNB and dogecoin both added over 1%.
Brent crude fell more than 4% to $83 a barrel as traders undid the geopolitical premium that had kept oil high since late February. Asian stocks jumped 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 major peers.
