Bitcoin jumps near $65,900 as the U.S.-Iran peace deal sparks a global rally. Here's why crypto markets are surging today and which altcoins are leading gains.
Bitcoin and the broader crypto market are moving higher today as investors react to a major geopolitical breakthrough and improving market sentiment.
At the time of writing, Bitcoin (BTC) is trading around $65,585, up 1.74% over the last 24 hours. Ethereum (ETH) has climbed to $1,715, gaining 2.37%, while Solana (SOL) is leading among major cryptocurrencies with a 5% jump to around $71. XRP, BNB, and several other large-cap altcoins have also posted gains between 2% and 3%.
The rally comes as multiple bullish factors align, ranging from easing geopolitical tensions to renewed ETF demand and a massive short squeeze across crypto markets.
The biggest catalyst behind today’s rally is President Donald Trump’s announcement that the United States and Iran have reached a peace agreement.
According to reports, the deal extends the ceasefire by 60 days, reopens the Strait of Hormuz, lifts the U.S. naval blockade on Iranian ports, and allows Iran to resume oil exports. Iran is also expected to reaffirm that it will not pursue nuclear weapons while negotiations begin regarding its more than 9,000 kilograms of enriched uranium under international supervision.
Future sanctions relief and access to frozen assets will reportedly depend on Iran's compliance.
The agreement is expected to be formally signed on June 19 in Switzerland and is being viewed as one of the largest de-escalation events in the region since the conflict began.
The announcement immediately triggered a powerful rally across global markets.
According to market data shared by Bull Theory, Asian stock markets added more than $1 trillion in value following the news.
Japan's Nikkei surged 5%, adding roughly $430 billion and reaching a new all-time high. South Korea's KOSPI gained 4.7%, adding $235 billion, while China's SSE rose 1.2%, adding approximately $160 billion.
India's Nifty 50 climbed 1.5%, adding about $82 billion, Taiwan gained 2.78% and added $73 billion, while Australia's ASX 200 rose 1.2%, adding another $25 billion.
The move reflects a broad return of investor confidence as fears of a prolonged Middle East conflict begin to fade.
The peace deal is also having a major impact on energy markets.
With the Strait of Hormuz expected to reopen and Iranian exports potentially returning to global markets, fears of an oil supply shock have eased significantly.
Reports indicate Brent crude fell more than 4% after the announcement. Lower oil prices help reduce inflation concerns and typically support risk assets such as stocks and cryptocurrencies.
That has created a favorable backdrop for Bitcoin and altcoins to rebound.
Another bullish development is the return of ETF inflows.
After nearly a month of continuous outflows, U.S. spot Bitcoin ETFs recently recorded approximately $86 million in net inflows. BlackRock's IBIT led the recovery with around $58 million, while Fidelity and Bitwise also posted positive contributions.
The return of institutional demand has helped stabilize sentiment after Bitcoin's recent correction below $60,000.
Many traders now view ETF inflows as a sign that larger investors are once again accumulating exposure.
A massive liquidation event helped accelerate the rally.
According to CoinGlass, more than 102,000 traders were liquidated over the last 24 hours, with total liquidations reaching approximately $339 million.
The largest single liquidation occurred on Binance, where a BTC/USDT position worth about $6.1 million was forcibly closed.
When short positions get liquidated, traders are forced to buy back assets, creating additional upward pressure and often accelerating market recoveries.
The gains weren’t limited to Bitcoin. Ethereum recovered above $1,720, XRP pushed higher, Solana approached $71, and Cardano gained nearly 5%.
Among the strongest performers were:
Meanwhile, the Altcoin Season Index climbed to 51, suggesting capital is gradually rotating beyond Bitcoin and into alternative crypto assets.
Today's rally is being driven by a combination of factors rather than a single event. The U.S.-Iran peace agreement has eased geopolitical fears, global stock markets are surging, oil prices are falling, Bitcoin ETFs are seeing fresh inflows, and hundreds of millions of dollars in short positions have been wiped out.
Together, these developments have created a strong risk-on environment, allowing Bitcoin and the broader crypto market to rebound sharply after weeks of uncertainty.
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