Fed Meeting Looms Large Over Bitcoin's Rebound Above $65,000

Bitcoin rose above $65,000 on Monday after the US temporarily halted its strikes on Iran and Tehran suspended attacks in response.

The largest cryptocurrency gained about 1% to $65,155, while Ethereum surged 4% to around $1,964, its highest level since early June.

The relief rally came just as crypto markets face another source of volatility: Wednesday's Federal Reserve meeting. The surge in oil above $100 last week has altered expectations for US interest rates, leaving the Fed decision capable of extending Bitcoin's rebound or putting renewed pressure on it.