The United States and Iran announced they have reached an agreement to end hostilities and reopen the Strait of Hormuz, driving Bitcoin to a nearly two-week high. Bitcoin once surged nearly 3%, now trading at $65,654, up 2.54%; Ethereum climbed as much as 4.21%, currently at $1,723, up 3.61%.

It once fell below $60,000, hitting its lowest level since October 2024.

According to Bloomberg, Bitcoin earlier fell below $60,000, reaching its lowest level since October 2024. The primary driver was MicroStrategy, the world’s largest corporate Bitcoin holder led by Michael Saylor, which disclosed that it had sold part of its Bitcoin holdings—though representing only a very small fraction—still sparking market concerns. In addition, substantial outflows from Bitcoin ETFs have further intensified selling pressure.

Pratik Kala, portfolio manager at the digital‑asset hedge fund Apollo Crypto, said that $67,000 is a key threshold for Bitcoin, as it is supported by multiple factors, including trading volume and moving averages. He also noted that Strategy-related risks have not yet been fully eliminated, but the market has chosen to overlook them for now.

This week, the focus shifts to the Federal Reserve’s interest-rate decision.

Although the easing of hostilities in the Middle East has helped boost risk assets. However, market attention will shift to this week’s Federal Reserve policy meeting, particularly as Kevin Warsh presides for the first time in his capacity as a Fed governor.

Sean McNulty, Head of Derivatives Trading for Asia-Pacific at FalconX, stated that the Federal Reserve’s meeting on Wednesday is the main focus this week. Market expectations are shifting from an accommodative to a neutral, or even hawkish, monetary policy stance; should a hawkish surprise materialize, it would constitute a major downside risk for cryptocurrencies.