Bitcoin Rebounds to $65,000 as US-Iran Tensions Ease

Bitcoin's price has regained the $65,000 level after a brief dip to around $63,000 on July 24. The rebound comes as tensions between the United States and Iran have eased somewhat following reports that both nations have ceased mutual attacks.

The US-Iran conflict had caused significant market anxiety, with Bitcoin's price initially rising to $66,800 on July 21 but then giving back those gains as tensions escalated. However, with news of a lull in the conflict, investors have regained some risk appetite, pushing the cryptocurrency's price up 1.01% over the prior 24 hours.

Major altcoins, including Ethereum and Ripple (XRP), also rose in tandem, with Ethereum gaining 4.31% to $1,953 and Ripple climbing 1.13% to $1.11. The total cryptocurrency market capitalization stands at $2.22 trillion, down 0.54% from 24 hours earlier.

Despite the rebound, the overall market sentiment remains in 'Fear' territory, according to CoinMarketCap's Crypto Fear & Greed Index, which registered 39 on July 27. Analysts are cautiously optimistic that this correction may have bottomed out, with some predicting a potential bull market.