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Bitcoin climbed back above $65,000 as the United States and Iran paused military strikes, easing immediate risk sentiment around the Middle East conflict. Oil prices fell more than 5%, while Bitcoin, Ether, and U.S. stock futures moved higher.
Bitcoin traded near $65,160, up about 1% over 24 hours, with a market value of roughly $1.31 trillion. Ether gained about 3% and approached $1,960.
U.S. and Iran Pause Military Strikes
The United States temporarily halted its two-week bombing campaign against Iran to allow more time for diplomacy. Iran agreed to stop its attacks as long as the U.S. maintained its pause, according to a senior Iranian official.
U.S. Ambassador to the United Nations Mike Waltz said President Donald Trump stopped the strikes to give diplomatic talks more time. However, neither side has announced a permanent ceasefire or final peace agreement.
The pause has reduced the immediate threat of further attacks, but the conflict has not formally ended. New attacks could quickly weaken market sentiment again.
Oil Drops More Than 5% After U.S.-Iran Pause
Brent Crude fell about 5.9% to $91.08 per barrel, while West Texas Intermediate declined about 5.4% to $84.51. Both benchmarks reached their lowest levels in nearly a week.
Oil had recently climbed above $100 as fighting disrupted shipping through the Strait of Hormuz and the Red Sea. Fewer than 10 commodity vessels passed through the Strait each day over the weekend, far below normal traffic levels.
The Strait of Hormuz carries a major share of global oil and gas shipments, making any disruption important for energy markets. Lower oil prices reduce one source of inflation pressure.
Bitcoin Still Faces Geopolitical and Fed Risks
Bitcoin rose above $65,000 during the same session that oil prices fell and the U.S.-Iran pause was announced. Bitcoin climbs back above 65.000 after falling below 64.000 on July 20th.
Investors will now watch whether the military pause holds and whether shipping activity recovers. A renewed rise in oil or fresh attacks would likely put pressure back on risk assets, while a calmer energy market could help Bitcoin hold its recent range.
Markets are also preparing for the Federal Reserve’s July 28–29 meeting. The Fed’s interest-rate decision and comments on inflation will provide the next major signals for Bitcoin and other risk assets.
