Bitcoin Climbs Back Above $65,500 as Iran Peace Deal Sends Oil Sliding

Bitcoin climbs back above $65,500 as Iran peace deal and oil slide lift risk assets. Bitcoin is trading at $65,590, up roughly 4% over the past week after news of a completed peace deal with Iran, the reopening of the Strait of Hormuz, and the end of the U.S. naval blockade. Oil fell about 4% on the news, easing inflation pressures and supporting risk assets. Institutional demand remains thin, with U.S. spot Bitcoin ETF outflows for June 8-12 totaling $316 million, a sharp improvement from last week's $1.72 billion redemption wave. The 30-day moving average of U.S. spot Bitcoin ETF trading volume has fallen from $4.4 billion per day in October 2025 to $960 million today, a 78% decline. Digital asset company (DAT) trading volume has fallen 49% to $17.4 billion. Strategy resumed buying after a brief pause, adding 1,550 BTC for about $101 million and lifting total holdings to 845,256 BTC. The macro setup adds complexity: May CPI rose 4.2% YoY, and the Fed meets Wednesday; a hold is expected, but tone will matter: oil relief could extend the rebound, hawkishness could reverse it. For now, Bitcoin has a reprieve, dependent on ETF bid revival.