Bitcoin nears $66K as stocks climb after US-Iran pause

Bitcoin approached $66,000 on Monday as U.S. stocks opened higher following a pause in strikes between the U.S. and Iran, with traders citing reduced geopolitical risk and renewed flows into risk assets.

Trading data showed BTC/USD spiking near $66,000 at the start of the U.S. session. The S&P 500 and Nasdaq Composite each rose about 0.3% in early trading. U.S. WTI crude oil fell toward $82 per barrel before a modest rebound. Reports indicated Tehran and Oman were working to establish mechanisms for maritime traffic through the Strait of Hormuz, a key oil route currently closed.

QCP Capital, in its market commentary, noted that digital assets have outperformed equities in July despite a tougher macro backdrop. “Digital assets have generally outperformed equities in July despite a more challenging macro backdrop,” the firm wrote, adding that BTC and ETH were up roughly 11.6% and 24.6% month-to-date. QCP also pointed to ongoing attention on the proposed CLARITY Act and its potential implications for U.S. crypto regulation.

Technical indicators showed Bitcoin holding the 21-day and 50-day simple moving averages, at about $64,289 and $63,261. Crypto trader and analyst Michaël Van de Poppe wrote on X that the setup looked supportive but fragile and that he would prefer to see a “strong move to $66,000-67,000 over the next 1-3 days to see a continuous bid coming in.”

Data from CoinGlass showed crypto short liquidations nearing $250 million over a 24-hour period as prices rose, reflecting rapid unwinding of leveraged bearish positions. Market participants also flagged higher U.S. Treasury yields as a possible headwind that could limit further gains.

Sunday’s weekly close left Bitcoin above two daily moving averages, a technical datapoint traders monitored alongside regional developments, month-to-date crypto performance and regulatory news.