Bitcoin has reclaimed $65,000 after oil prices plunged to a two-month low following a reported US-Iran peace agreement that eased concerns over disruptions in the Strait of Hormuz. According to data from crypto.
Bitcoin's latest difficulty adjustment gave miners some breathing room after a slower-than-usual period for the network.
Contrary to retail crypto investors' hopes for an imminent rally, the latest technical review of Bitcoin from legendary trader Peter Brandt points to the opposite - a continuation of the prolonged consolidation.
The Bitcoin network experienced a significant 10.09% mining difficulty reduction on Sunday, with the metric declining from 138.96 trillion to 124.93 trillion at block height 953,568. According to Galaxy Research, this represents the 11th-largest downward difficulty adjustment ever recorded on the network.
Crude oil prices fell roughly 4% after U.S. President Donald Trump declared that a peace deal with Iran is “officially complete” and that the Strait of Hormuz is now open. The selloff rippled into risk assets as bitcoin reclaimed $65,000.
Two heavyweight crypto investors have voiced optimism about Bitcoin's near-term trajectory. Anthony Scaramucci, who heads SkyBridge Capital, and Mike Novogratz, CEO of Galaxy Digital, both expressed confidence that Bitcoin could climb back to $70,000 before July 2026 ends.
Changpeng “CZ” Zhao, the founder of cryptocurrency exchange Binance, continues to defend his optimistic outlook on digital currencies despite Bitcoin's current market challenges in 2026.
Financial markets experienced a dramatic shift following the announcement of a peace accord between the United States and Iran. Cryptocurrency values climbed, equity futures jumped, and energy commodities retreated as investors adjusted to reduced Middle East conflict risks.
Binance (CRYPTO: BNB) co-founder Changpeng "CZ" Zhao said on Sunday that the anticipated Bitcoin (CRYPTO: BTC) super cycle may be delayed, playfully admitting that he can't nail every prediction. ‘Super Cycle Will Come' CZ posted on X a clip from his recent interview with CoinDesk, where he was reminded about his January prediction that 2026 will be a super cycle for Bitcoin.
Crypto markets watch the Fed, Kevin Warsh and Iran peace deal news as Bitcoin rebounds above $65K before key US economic data due this week.
Bitcoin climbed past $65,000 as easing geopolitical tensions and lower mining difficulty improved market conditions.
The Smarter Web Company's Bitcoin strategy highlights the growing trend of businesses leveraging crypto assets for financial growth and market positioning. The Smarter Web Company raises $400K, holds 2,878 BTC as UK's largest public Bitcoin holder.