Bitcoin Climbs Above $65,800 as US-Iran Peace Deal Boosts Risk Appetite

Bitcoin traded near $65,800 (roughly Rs. 62.3 lakh) on Monday, as the cryptocurrency market gained ground following an improvement in global risk sentiment. The world's largest cryptocurrency saw an increase of 1.98 percent in the last week. Ethereum (ETH) was trading near $1,700 (roughly Rs. 1.63 lakh), reflecting positive movement across the broader crypto market. Bitcoin is currently priced around Rs. 62 lakh in India, while Ethereum trades near Rs. 1.62 lakh, as per today's Gadgets 360 price tracker.

Analysts noted that the announcement of a peace agreement, alongside renewed inflows into Bitcoin ETFs, helped support a broader risk-on move across equities, commodities, and digital assets.

Various altcoins also traded at higher prices on Monday, broadly mirroring Bitcoin's gains. Binance Coin (BNB) was priced around $617.07 (roughly Rs. 58,450), while Solana (SOL) was priced at $71.30 (roughly Rs. 6,750). XRP hovered around $1.18 (roughly Rs. 112), and Dogecoin (DOGE) was trading close to $0.089 (roughly Rs. 8.4), indicating improving confidence across large-cap crypto assets.

Peace Deal Optimism Lifts Crypto Market Sentiment

Explaining the latest market setup, Akshat Siddhant, Lead Quant Analyst at Mudrex, said, “The peace deal announcement sparked a broad risk-on move, influencing commodities, equities, and digital assets alike. Investor confidence was further supported by $85.8 million (roughly Rs. 81.3 crore) in net inflows into Bitcoin ETFs on Friday, ending five consecutive days of outflows. Attention now shifts to the June 19 signing in Switzerland, which could determine whether the positive momentum continues.”

Providing a broader assessment of market conditions, Vikram Subburaj, CEO, Giottus.com, said, “During early June, US spot Bitcoin ETFs recorded sizeable outflows across multiple sessions, signalling that large investors have become more cautious after the strong rallies seen previously. At the same time, markets are awaiting the outcome of the June 16-17 US Federal Reserve meeting, which will provide fresh guidance on interest rates and inflation [...] Avoid chasing short-term rallies ahead of the Federal Reserve decision.”

Overall, analysts said the crypto market has received a sentiment boost from easing geopolitical tensions and the return of Bitcoin ETF inflows. However, the upcoming Federal Reserve meeting remains the key event that could determine whether the latest recovery extends further. Bitcoin's ability to hold above the $65,000 (roughly Rs. 61.6 lakh) level and reclaim the $66,000 (roughly Rs. 62.5 lakh) zone will remain important for sustaining bullish momentum in the near term.