Bitcoin Surges Past $65K on US-Iran Ceasefire
Bitcoin has regained its footing above $65,000 after a US-Iran ceasefire eased inflation concerns by lowering crude oil prices. The development weakened the dollar and increased the appeal of Bitcoin to international investors. Large holders have begun to move their Bitcoin off exchanges, signaling reduced supply and increased scarcity.
The price drop in oil has also had a positive impact on mining activity, reducing selling pressure. However, investors are now looking forward to the Federal Reserve's policy decision, with a 33% chance of a rate hike that could further impact crypto markets.