Bitcoin climbed toward $66,000 on Monday after the U.S. and Iran announced an interim peace deal Sunday, a geopolitical surprise that sent crypto-linked stocks higher in pre-market trading. The truce — still light on details but heavy on symbolism — gave traders a reason to buy into a market that had been waiting for a catalyst.
Markets react to the truce
Bitcoin traded near $66,000 by Monday afternoon, up sharply from levels seen late last week. The move came as Polymarket bettors assigned a 69% probability that the Federal Reserve will deliver zero rate cuts this year — a sign that markets aren't expecting monetary relief anytime soon. The peace deal, though, shifted focus away from central bank policy for a moment.
Crypto stocks join the rally
Crypto-exposed equities also rose in pre-market trading, though the names weren't specified in the brief Monday morning session. The broader risk-on mood followed the announcement of what officials described as an interim arrangement between the two countries. No formal text of the deal has been released, but the market took the news as a positive step.
The peace deal removes one geopolitical overhang, but the macro picture hasn't changed. With the Fed still on hold and rate-cut odds low, the question is whether this rally has legs or is just a short-term bounce. Traders will be watching for any follow-up on the truce — and for the next batch of U.S. economic data that could move the rate-cut needle.
