Bitcoin prices jumped to their highest level in nearly two weeks on Monday, June 15, after the United States and Iran announced an agreement to end hostilities and reopen the Strait of Hormuz, a key global trade route.
The development boosted investor sentiment across risk assets, including cryptocurrencies.
Bitcoin rose nearly 3% in early Asian trading to around $65,400, recovering from recent volatility that had pushed it below the $60,000 level, its lowest since October 2024.
Ether, the second-largest cryptocurrency, climbed as much as 3.7% to $1,731, while smaller tokens such as Solana and XRP also posted stronger gains.
Market experts noted that Bitcoin is stabilising after a period of sharp fluctuations, showing resilience despite ongoing geopolitical and macroeconomic uncertainty.
According to experts, the cryptocurrency is consolidating near the $65,000 level as investors assess global developments.
Sentiment improved after US President Donald Trump announced on social media that a peace agreement with Iran had been finalised, along with the lifting of the US blockade on the Strait of Hormuz.
The news triggered a broad “risk-on” rally across equities and crypto markets, while Brent crude oil prices fell more than 4%.
Analysts said easing tensions in the Middle East could support risk assets ahead of the upcoming US Federal Reserve policy meeting under Chair Kevin Warsh.
However, expectations of prolonged high interest rates may still pose headwinds for cryptocurrencies.
Market participants are closely watching Federal Reserve guidance, which could shape global liquidity conditions.
Experts also point to sustained institutional accumulation and easing mining difficulty as supportive factors for crypto prices.
