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

Markets Bitcoin hits a two-week high above $65,500 as the US-Iran deal sends oil sliding A 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 read Make preferred on Share Share this article Copy link X icon X (Twitter) LinkedIn Facebook Email Make preferred on Summary Show Bitcoin 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 announced the deal first, followed by President Donald Trump and Iranian state media. Trump said the Strait of Hormuz will reopen on Friday upon signing. Neither side has released the full text, but the broad contours had been circulating for days. Bitcoin's slide below $60,000 last week came from two directions at once. Iran tensions fed higher oil, which reinforced bets on higher interest rates, and higher rates pulled money out of risk assets including crypto. A deal that brings oil back toward $83 runs that dynamic in reverse. Another other pressure point remains, however. Strategy's disclosure earlier this month that it sold 32 bitcoin to fund preferred share dividends sparked a selloff that exposed how much of crypto's bid had rested on the assumption that Saylor would never sell. ETF outflows added to that pressure, and neither of those demand questions gets answered by a peace deal. Watch whether the institutional flows turn with the risk-on mood, or whether bitcoin's recovery stalls once the Iran relief trade is fully priced. Latest Crypto News 1 Bitcoin shoots higher on Iran peace deal, with Strait of Hormuz set to open 3 hours ago 2 Bitcoin could crash to $48,000, if this historical pattern is triggered 8 hours ago 3 Summer of crypto (regs): State of Crypto 9 hours ago 4 Aerodrome is turning liquidity into a prediction market with its biggest upgrade yet 12 hours ago 5 SEC's big swing to clear tokenization path isn't likely to get resilience of full rule 13 hours ago 6 Wall Street and crypto are crashing into each other as tokenized treasury markets hit $14.6 billion 14 hours ago 7 Crypto’s next billion-dollar hacker may move at superhuman speed Jun 13, 2026 8 Here's what SpaceX's IPO means for its $1.3 billion bitcoin reserve Jun 13, 2026 9 Stablecoins Were Meant to Disrupt Finance. Instead, They Became Idle Cash. Jun 13, 2026 10 Bitcoin rises above $64,000 after Pakistan prime minister says Iran peace deal is near Jun 13, 2026 Latest Research The Incentive Dynamic Engine: A New Era for io.net Tokenomics The Incentive Dynamic Engine: A New Era for io.net Tokenomics io.net's IDE ties token burns to real GPU demand, replacing fixed emissions with a demand-linked model - live as of 11 June 2026. By CoinDesk Research Jun 12, 2026 Commissioned by io.net io.net's IDE ties token burns to real GPU demand, replacing fixed emissions with a demand-linked model - live as of 11 June 2026. Why it matters : io.net's IDE ties token burns to real GPU demand, replacing fixed emissions with a demand-linked model - live as of 11 June 2026. View Full Report More From Markets Bitcoin shoots higher on Iran peace deal, with Strait of Hormuz set to open Bitcoin could crash to $48,000, if this historical pattern is triggered Wall Street and crypto are crashing into each other as tokenized treasury markets hit $14.6 billion