US-Iran Ceasefire Boosts Bitcoin to $65,500

Bitcoin surged above $65,000 as the US and Iran declared a ceasefire, easing geopolitical tensions and causing oil prices to plummet nearly 5%. The move lifted investor sentiment, with Ethereum outperforming Bitcoin with a 3% gain. This signals a potential altcoin rally, with other major tokens also seeing modest increases.

The pause in hostilities created a risk-on environment, boosting markets and currency values like the euro and Aussie dollar. However, investors remain cautious ahead of the upcoming Federal Reserve meeting, which could impact inflation and interest rates.