Bitcoin Nears $66K as Trump Announces Iran Peace Deal

Bitcoin rose about 2% on Monday, trading near $66,000 after Donald Trump announced a peace deal with Iran that would reopen the Strait of Hormuz. The token hit $65,881 on Coinbase, its highest level since June 3, as traders priced in reduced geopolitical risk. Oil markets fell on the news, with WTI down about 5% and Brent around 4.6%, reflecting lower risk premiums and altered supply dynamics. The move is framed as a risk-on reaction, supported by renewed institutional inflows and improved sentiment in the broader crypto complex. Looking ahead, the Fed’s upcoming decision under new Chair Kevin Warsh could inject volatility, though the market remains in a critical $60,000–$66,000 support zone.