Bitcoin Nears $66K as US Stocks Rally Amid Iran Strike Pause

Bitcoin (BTC) rose to near $66,000 on Monday as US stocks also opened higher following a pause in strikes between the US and Iran.

The halt in military action and potential progress on reopening the Strait of Hormuz contributed to a rally in risk assets, with Bitcoin mirroring this trend.

QCP Capital noted that digital assets have generally outperformed equities in July despite a challenging macro backdrop, with BTC up around 11.6% month-to-date.

Crypto trader Michaël Van de Poppe highlighted the importance of Bitcoin defending its daily moving averages as support, but expressed caution over the market's fragility.