Bitcoin Nears $66K as Iran Conflict Tensions Ease

Bitcoin (BTC) edged closer to $66K on Monday as market sentiment improved following reports of a pause in military strikes between the US and Iran.

The news of easing geopolitical tensions boosted demand for risk assets, lifting both cryptocurrency and equity markets. The S&P 500 and Nasdaq Composite Index opened around 0.3 percent higher, while Bitcoin approached its highest level in recent weeks.

Analysts at QCP Capital noted that digital assets have continued to outperform traditional equities despite a challenging macroeconomic environment. Bitcoin has gained around 11.6 percent in July, while Ethereum surged approximately 24.6 percent during the month.

Crypto analyst Michaël van de Poppe said Bitcoin has successfully defended its 21-day and 50-day simple moving averages, a technical signal often viewed as supportive for further gains. However, he added that the market remains fragile, and a sustained move into the $66,000, $67,000 range over the coming days would provide stronger confirmation of bullish momentum.