Bitcoin saw a significant rise in the past few hours, successfully recovering the $65,000 level after US President Donald Trump announced a peace agreement with Iran, a move that boosted investors' appetite for risk and restored momentum to global financial markets.
These gains coincided with a sharp decline in oil prices, which helped to ease the economic pressures that had affected high-risk assets in recent months.
US-Iran agreement ends months of tension
Trump announced that the United States and Iran had reached an agreement stipulating the reopening of the Strait of Hormuz to international shipping and the end of the US naval blockade, with June 19 set as the date for the official signing of the agreement in Switzerland.
This development marks the end of more than three months of geopolitical tensions that have directly impacted energy markets and the global economy.
The announcement quickly boosted investor sentiment, with people returning to buying high-risk assets after concerns about global energy supplies eased.
BTC surges and massive short positions are liquidated
The cryptocurrency market responded strongly to this news, with the price of Bitcoin rising to $65,600, achieving daily gains of over 2%.
The total market capitalization of cryptocurrencies also rose to about $2.25 trillion, amid a broad buying wave that pushed the market to record a positive performance.
The rapid rise led to the liquidation of more than $246 million in short positions, after traders were surprised by the sudden increase in prices.
Lower oil prices ease pressure on markets
One of the most notable results of the agreement was the decline in oil prices to below $81 a barrel, with a drop of more than 4% in a short period.
Oil is one of the most prominent factors that contributed to the rise in inflation rates during the past period, so investors believe that the decline in its prices may alleviate pressure on financial markets and give digital assets a greater chance to recover.
Market data also showed a significant correlation between the movement of Bitcoin and gold during this period, indicating that the current rise is more related to an improvement in the global economic environment than simply being a speculative wave within the digital currency market.
Significant gains in the cryptocurrency market
The positive impact was not limited to Bitcoin alone, but extended to many major digital currencies.
XRP saw gains exceeding 3%, while Solana climbed by more than 3.5%. Hyperliquid also achieved strong gains of nearly 7.5%.
Zcash was one of the biggest beneficiaries of the upward trend, having recorded a rise of more than 15% during the same period.
The details of the agreement raise some questions.
Despite the optimism that prevailed in the markets, some discrepancies emerged regarding the details of the agreement.
Iranian media reported that the agreement includes allocating $300 billion for reconstruction, in addition to releasing $24 billion of frozen Iranian funds.
In contrast, the US administration denied any direct financial transfers to Iran, creating ambiguity regarding some of the agreement's provisions.
Analysts believe these differences could remain a significant factor influencing the markets in the coming days, especially as the official signing date approaches.
Markets are awaiting the next move.
Investors are currently awaiting the signing of the agreement scheduled for June 19 to see how committed both parties are to fully implementing its terms.
If the geopolitical situation continues to improve and energy supplies flow normally, this could provide additional support for Bitcoin and the cryptocurrency market in the coming period, especially with the return of risk appetite to global markets.
