Crypto
Bitcoin Surges Above $65,000 on Iran-Oman Deal Hopes
Bitcoin rose above $65,000 after news emerged that Iran is prepared to strike a deal with Oman to reopen the Strait of Hormuz. This development eased concerns about the potential for conflict in the region and had a positive impact on risk assets.
The move was correlated with Nasdaq 100 index futures, which rose by 0.45% since midnight UTC. Bitcoin price increased by 0.54% to $65,209 while ether gained 0.86% to $1,925.
The altcoin market is cautiously optimistic but not yet moving, with the altcoin season indicator sitting at 37/100 and capital still concentrated in bitcoin. This suggests that meaningful rotation into smaller tokens is contingent on BTC breaking out of its current range.