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.
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Bitcoin rose above $65,500 after a U.S.-Iran deal eased oil fears, while ETF outflows and technical resistance still pressure BTC price.
The rally reflected improving risk sentiment following reports that the U.S. and Iran have reached a peace agreement, analysts said.
Coinbase Global Inc. (NASDAQ:COIN ) CEO Brian Armstrong reaffirmed on Sunday his bullish stance on Bitcoin (CRYPTO: BTC), projecting a “much higher” price for the asset by 2030. ‘A key Part Of Our Economy' Armstrong shared a clip on X from his recent appearance on the Moonshots with Peter Diamandis podcast, where he expressed strong optimism about Bitcoin's future.
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Bitcoin climbed to its highest level in nearly two weeks after reports emerged that the United States and Iran had reached an agreement to end hostilities and reopen the Strait of Hormuz, easing concerns over global energy supplies and boosting investor sentiment across financial markets. According to CoinDesk data, Bitcoin traded around $65,844 on Monday, gaining 2.1% over the previous 24 hours.
A peace agreement that reopens the Strait of Hormuz pulled the geopolitical premium out of oil and put back into risk assets.