Crypto
Bitcoin Surges Above $65K as Iran Ceasefire Lifts Market Risk
Bitcoin rose above $65,000 on Monday as the US and Iran paused military strikes for a second day.
The ceasefire lifted risk appetite across markets, causing oil prices to drop sharply. Brent crude fell below $87 per barrel, while WTI futures dropped around 5% to $85.
Ethereum outperformed Bitcoin, gaining over 3% to nearly $1,950. This suggests a possible rotation into alternative cryptocurrencies, according to Vikram Subburaj, CEO of Indian exchange Giottus.
Stocks also rose ahead of the Federal Reserve meeting on July 28 and 29. Dow Jones futures gained 0.8%, S&P 500 futures rose 0.8%, and Nasdaq-100 contracts jumped 1.4%.