Bitcoin surged nearly 3% to $65,400 after the US and Iran reached an agreement to end hostilities and reopen the critical Strait of Hormuz.

Bitcoin price analysis sees multiple bullish setups forming as a US-Iran peace deal which will open the Strait of Hormuz deadline arrives.

The US and Iran agreed on a peace deal framework, sending Bitcoin past $64,000 as markets price in reduced geopolitical risk and ETF inflows accelerate.