Bitcoin don bounce pass $65K as US-Iran deal open Hormuz again
Bitcoin climb reach about $65,844, near two‑week high, up 2.1% for 24 hours after US‑Iran deal to reopen Strait of Hormuz reduce worry about energy supply. The rally follow earlier dip to around $63,722 and push Bitcoin about 9% above last week’s sub‑$60,000 low. Bitcoin also get boost from macro relief: Brent crude drop over 4% toward $83, dollar weaken, and Asian stocks jump.
Crypto leaders join the rebound. Ether rise to about $1,721 (+2.5%), Solana up to about $71 (+3.6%), XRP add about 3.2% to $1.19, and Hyperliquid’s HYPE jump 7.5% to nearly $65.
Still, the rebound get wahala. ETF flows and company selling remain worry: Strategy sell 32 BTC to pay preferred‑share dividends (their first sale since 2022), and spot Bitcoin ETF outflows earlier put pressure on price, though flows turn positive on June 13 with $85.8M net inflows—the first green day in about four weeks.
Traders now face the key question: eppo the “Iran oil relief trade” go continue lift risk assets and Bitcoin, or the market go stop once the news‑driven move don fully price in?
Bullish
Dis tori news fit make crypto go up—specially for short term—because e trigger classic risk-on relief trade. Bitcoin jump as US-Iran deal wey open back the Strait of Hormuz reduce one important energy-supply/geo-risk premium wey dey support higher oil and make financial conditions tight. When Brent crude drop over 4% and dollar weak, the macro backdrop become friendlier to risk assets, and dat typically benefit Bitcoin and other correlated majors.
But the bullish move fit no balanced. Strategy report say dem sell 32 BTC and earlier spot Bitcoin ETF outflows show supply pressure still dey. Even though ETF flows improve on June 13 (net inflows $85.8M), traders likely go dey watch whether institutions go continue to buy or if price rise na just temporary positioning.
Historically, similar geopolitical “de-escalation” moments often produce sharp but sometimes short-lived crypto rallies as markets unwind hedges and reallocate risk. If oil continue to fall and rate expectations ease, the long-term tone fit remain supportive. If market quickly price the relief and ETF sell-off return, Bitcoin fit consolidate or retrace despite the geopolitical headline.