Bitcoin prices surged to their highest level in almost two weeks on Monday, 15 June, after the US and Iran announced an agreement to end hostilities and reopen the Strait of Hormuz.
The world’s largest gained nearly 3% during early Asian trading, reaching around $65,400. Meanwhile, Ether, the second-largest digital asset, advanced as much as 3.7% to $1,731, while smaller cryptocurrencies such as Solana and XRP posted even stronger gains.
The rebound follows a period of heightened market volatility that had pushed Bitcoin below the $60,000 mark, sending it to its lowest level since October 2024.
“Bitcoin is trading around the $65,000 mark today, consolidating after a period of heightened volatility and demonstrating resilience despite ongoing geopolitical and macroeconomic uncertainties,” said Avinash Shekhar, Co-Founder & CEO, Pi42.
What’s driving Bitcoin prices today?
According to a Bloomberg report, investor sentiment improved after US President Donald Trump announced on social media that a peace agreement with Iran had been finalised and that the US would lift its blockade of the Strait, a key global trade route.
The development sparked a risk-on sentiment among investors, driving equities and cryptocurrencies higher. Meanwhile, Brent crude prices declined by more than 4%.
The easing of tensions in the Middle East could support risk assets ahead of Kevin Warsh’s first policy meeting as Chair of the US Federal Reserve this week. However, any indication that interest rates may remain elevated is likely to put pressure on cryptocurrencies.
According to Shekhar, the is now closely focused on the upcoming Federal Reserve guidance, which could influence liquidity expectations across global financial markets.
“Continued accumulation by institutional participants, including large corporate holders, along with easing mining difficulty, has helped strengthen market sentiment,” Shekhar added.
Bitcoin prices outlook
Shekhar believes that a staggered investment approach remains effective in navigating market fluctuations while maintaining exposure to long-term opportunities in digital assets.
“The focus should remain on fundamentally strong cryptocurrencies, monitoring institutional flows, macroeconomic developments and on-chain activity. Investors should avoid making decisions driven by market noise and instead maintain a disciplined allocation strategy aligned with their investment horizon and financial objectives,” he added.
According to WazirX’s market desk, the crypto market is showing signs of notable recovery as macroeconomic pressures ease across the ecosystem. Risk sentiment has improved after reports of a US–Iran peace agreement and the reopening of the Strait of Hormuz, which pushed oil prices lower and supported global risk assets.
“Bitcoin is trading around $65,550 while Ethereum is near $1,717, both posting gains over the last 24 hours. Market participants are closely watching the $66,000 and $67,000 levels for Bitcoin, the next important resistance zones in the near term,” it said.
Disclaimer: This story is for educational purposes only. The views and recommendations above are those of individual analysts or broking companies, not Mint. We advise investors to check with certified experts before making any investment decisions.