Bitcoin nears $65K as Trump says Hormuz will 'open to all' in Sunday Iran peace deal

Bitcoin traded near $65,000 on Sunday, influenced by a reported US-Iran peace deal pledge and analysis suggesting favorable conditions for a sustained price rebound. The cryptocurrency experienced a notable surge, with some analysts pointing to increased institutional interest and a potential shift in geopolitical sentiment as drivers. The mention of a peace deal involving Iran, coupled with former President Donald Trump's statement that the Strait of Hormuz would 'open to all,' contributed to a broader market optimism that spilled over into digital assets. Technical indicators also suggested a bullish outlook for Bitcoin, with trading volumes increasing in the preceding days. This price action follows a period of volatility, and the $65,000 level represents a significant psychological and technical barrier. Market participants are closely watching for further developments in both the geopolitical landscape and the cryptocurrency market to gauge the sustainability of this upward trend. The broader economic environment, including inflation data and central bank policies, also continues to play a role in investor sentiment towards risk assets like Bitcoin.