Bitcoin surges above $66,000 as US–Iran peace deal boosts sentiment

Key takeaways

• BTC is up 4% and is now trading above the $66,500 level.
• The rally comes following reports of a preliminary peace agreement between the United States and Iran.

Bitcoin extends recovery following geopolitical breakthrough

Bitcoin (BTC) has surged above $66,600 on Monday after gaining 4% during the previous week, supported by improving global risk sentiment following reports of a preliminary peace agreement between the United States and Iran.

The easing of geopolitical tensions helped lift risk assets across financial markets, providing additional momentum for Bitcoin’s recovery after weeks of heightened uncertainty.

However, despite the rebound in price, institutional demand remains under pressure, with spot Bitcoin exchange-traded funds (ETFs) recording another week of net outflows.

Investor sentiment improved significantly after officials from both countries signaled progress toward a diplomatic resolution.

Iran’s Supreme National Security Council confirmed that Tehran had finalized a Memorandum of Understanding (MoU...