Bitcoin reached its highest level in nearly two weeks following the US-Iran agreement to halt hostilities and restore operations in the Strait of Hormuz, alleviating long-standing energy supply concerns that had pressured markets. The cryptocurrency traded near $65,844 on Monday, reflecting a 2.1% gain over 24 hours, after dipping to around $63,722 during early Asian trading before the diplomatic breakthrough, according to CoinDesk data.
The rally positioned Bitcoin roughly 9% above its sub-$60,000 low recorded the previous week, its lowest point since October 2024. Altcoins also advanced broadly: Ether climbed 2.5% to $1,721, Solana rose 3.6% to $71, and XRP gained 3.2% to $1.19. Hyperliquid’s HYPE led gains with a 7.5% increase to nearly $65, while BNB and Dogecoin each added over 1%.
Brent crude futures dropped more than 4% to around $83 a barrel as traders reduced bets on geopolitical risks that had supported oil prices since late February. Asian equities surged over 3%, with Japan’s Nikkei 225 on track for a record close. S&P 500 futures rose 1.2%, and the US dollar weakened against major currencies.
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