Bitcoin price surges

Bitcoin prices surged to a near two-week high as tensions between the US and Iran eased. However, the cryptocurrency market still faces risks from the Fed's policy stance.

Bitcoin is currently trading around $65,000/BTC. Photo: CoinMetric .

According to Bloomberg , Bitcoin prices surged to their highest level in nearly two weeks after the US and Iran announced they had reached an agreement to end hostilities and reopen the Strait of Hormuz – a vital shipping lane for global trade.

The world's largest cryptocurrency rose nearly 3% in Asian trading on the morning of June 15, reaching around $65,400 . Ethereum – the second-largest cryptocurrency by market capitalization – at one point surged nearly 4% to $1,731 . Meanwhile, smaller-cap cryptocurrencies like Solana and XRP saw even stronger gains.

This recovery comes after a period of significant volatility that saw Bitcoin drop below $60,000 at one point, reaching its lowest level since October 2024. Selling pressure intensified when Strategy – the world's largest Bitcoin accumulation company co-founded by billionaire Michael Saylor and also the largest Bitcoin holder – revealed it had sold a very small portion of its Bitcoin holdings.

This information contributed to a sell-off in the market, amidst significant outflows from spot Bitcoin ETFs.

Pratik Kala, portfolio manager at the digital asset hedge fund Apollo Crypto, predicts the next key threshold for Bitcoin is $67,000 .

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“This price range is a convergence of several important technical factors, including trading volume and moving averages. The risks associated with Strategy haven’t completely disappeared, but the market is currently ignoring this factor,” he said.

Investor risk appetite improved after President Trump declared on social media that a peace deal with Iran was "complete" and that the US would end its blockade of the Strait of Hormuz.

This news fueled gains in global financial markets. Asian stocks rose across the board, while S&P 500 futures gained about 1%. Brent crude oil prices fell by more than 4%.

The easing of tensions in the Middle East is seen as potentially supporting risk assets, including cryptocurrencies, ahead of this week's first policy meeting chaired by Federal Reserve Chairman Kevin Warsh.

Nevertheless, investors remain cautious about the possibility of the Fed signaling that it will maintain high interest rates for a longer period, a factor that could put pressure on the cryptocurrency market.

Sean McNulty, head of derivatives trading for the Asia-Pacific region at FalconX, believes the market's focus this week will be the Fed meeting on June 17th.

"The market is expecting the Fed to shift from an easing stance to a more neutral or hawkish position. A hawkish surprise would be the biggest risk to the cryptocurrency market in the short term," he said.

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Source: https://znews.vn/gia-bitcoin-bat-tang-manh-post1659805.html