Bitcoin hits a two-week high above $65,500 as the US-Iran deal sends oil sliding

MarketsBitcoin hits a two-week high above $65,500 as the US-Iran deal sends oil slidingA peace agreement that reopens the Strait of Hormuz pulled the geopolitical premium out of oil and put back into risk assets.By Shaurya Malwa Jun 15, 2026, 3:56 a.m. 2 min readMake preferred on ShareShare this articleCopy linkX iconX (Twitter)LinkedInFacebookEmailMake preferred on SummaryShowBitcoin rose about 2% to roughly $65,800, its highest level in nearly two weeks, after the United States and Iran reached a deal to end hostilities and reopen the Strait of Hormuz.The agreement eased energy-supply fears, sending Brent crude down more than 4% toward $83 a barrel and lifting global risk assets, including major cryptocurrencies and Asian stocks.Analysts say bitcoin’s rebound may be limited by ongoing concerns over institutional demand, including ETF outflows and recent sales by Strategy, even as the Iran-related risk premium fades.Bitcoin climbed to its highest level in nearly two weeks after the US and Iran reached a deal to end hostilities and reopen the Strait of Hormuz, removing the energy-supply fear that had weighed on markets for months.The token traded around $65,844 on Monday, up 2.1% over 24 hours, after touching a low near $63,722 in the early hours of Asian trading before the deal news broke, per CoinDesk data. The move puts bitcoin about 9% above the sub-$60,000 low it hit last week, its weakest level since October 2024.The rally was broad. Ether rose 2.5% to $1,721, solana gained 3.6% to $71 and XRP added 3.2% to $1.19. Hyperliquid's HYPE was the standout, up 7.5% on the day to nearly $65. BNB and dogecoin both added more than 1%.Brent crude slumped more than 4% toward $83 a barrel as traders unwound the geopolitical premium that had kept oil elevated since late February. Asian stocks jumped more than 3%, with Japan's Nikkei 225 heading for a record close. S&P 500 futures were up 1.2%. The dollar fell against major peers.Pakistani Prime Minister Shehbaz Sharif an…

Bitcoin hits a two-week high above $65,500 as the US-Iran deal sends oil sliding

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