Bitcoin Approaches $66K Following Trump’s Iran Peace Deal Announcement
- Bitcoin (BTC) reached $65,881 on Coinbase, marking its highest price in over a week.
- US President Trump announced a peace deal with Iran that could reopen the Strait of Hormuz.
- The broader cryptocurrency market gained approximately 2% in total capitalization.
- Several altcoins, including Zcash (ZEC) and Near Protocol (NEAR), saw double-digit percentage gains.
- Crude oil prices fell, with WTI Crude down by over 5% to around $80 per barrel.
Trump’s announcement is seen as reducing geopolitical risk, which has positively impacted Bitcoin prices as traders return to crypto markets amid lower oil pressure. The peace deal is expected to be signed by Iran on Friday under mediation by Pakistan.
Despite recent gains, Bitcoin remains down about 48% from its peak of over $126,000 last October. (Source)
