This article first appeared on GuruFocus.
Bitcoin (BTC-USD) held near a 2-week high Monday as crypto stocks climbed after the U.S. and Iran reached a deal to end hostilities and reopen the Strait of Hormuz.
The token traded near $65,844, up 2.1% over 24 hours, after dipping as low as $63,722 earlier in Asian trading before the deal news broke, according to CoinDesk data. Bitcoin later eased slightly to $65,548.73, but the broader risk-on move stayed intact.
Crypto-linked equities also joined the rally. MicroStrategy (NASDAQ:MSTR), Coinbase (NASDAQ:COIN), Robinhood (NASDAQ:HOOD), MARA Holdings (NASDAQ:MARA), Riot Platforms (NASDAQ:RIOT), Iren (NASDAQ:IREN), Circle (NYSE:CRCL) and HIVE Digital (NASDAQ:HIVE) gained between 4% and 6%. Ether rose 2.5% to $1,721, Solana added 3.6% to $71, and XRP climbed 3.2% to $1.19.
the move shows how quickly crypto can respond when geopolitical pressure eases. A reopened Hormuz route reduces fears around oil shocks, inflation and tighter financial conditions. The next test is whether Bitcoin can hold above recent lows and turn the relief rally into a more durable risk-asset rebound.
