A peace deal reopening the Strait of Hormuz has reduced the geopolitical risk premium on oil, benefiting risk assets.
By Shaurya Malwa Jun 15, 2026, 3:56 a.m. 2 min readMake preferred on ShareShare this articleCopy linkX (Twitter)LinkedInFacebookEmailMake preferred on SummaryShow- Bitcoin increased by approximately 2% to about $65,800, marking its highest point in nearly two weeks after the US and Iran finalized a peace agreement and reopened the Strait of Hormuz.
- This agreement alleviated energy supply concerns, resulting in a more than 4% decline in Brent crude prices towards $83 per barrel, while boosting global risk assets, including major cryptocurrencies and Asian equities.
- Experts suggest that the resurgence of bitcoin may face limitations due to persistent worries regarding institutional demand, such as ETF outflows and recent sales by Strategy, despite the easing Iran-related risk premium.
Bitcoin has surged to its highest level in almost two weeks following a US-Iran peace agreement that ended hostilities and reopened the Strait of Hormuz, alleviating the energy supply anxieties that have plagued markets for months.
The cryptocurrency traded around $65,844 on Monday, reflecting a 2.1% increase over the past 24 hours after dipping to about $63,722 earlier during Asian trading before the news of the deal emerged, according to data from CoinDesk.
This surge positions bitcoin approximately 9% above last week's dip below $60,000, which was its lowest point since October 2024.
The upward trend extended to other cryptocurrencies as well. Ether climbed 2.5% to $1,721, solana rose by 3.6% to $71, and XRP increased by 3.2% to $1.19. Hyperliquid's HYPE notably surged 7.5% to nearly $65, while BNB and dogecoin also saw gains exceeding 1%.
Brent crude oil prices fell by over 4% towards $83 a barrel as traders adjusted the geopolitical risk premium that had supported elevated oil prices since late February. Asian stocks experienced a rise of more than 3%, with Japan's Nikkei 225 nearing a record close. S&P 500 futures saw a 1.2% increase, while the US dollar weakened against major currencies.
The announcement of the deal was initially made by Pakistani Prime Minister Shehbaz Sharif, followed by statements from President Donald Trump and Iranian state media. Trump indicated that the Strait of Hormuz would reopen on Friday upon the signing of the agreement.
While the full text of the agreement has not been publicly released, general details had been circulating for several days prior.
Bitcoin's decline below $60,000 last week was influenced by two factors: tensions with Iran drove up oil prices, which in turn strengthened expectations of rising interest rates, prompting a withdrawal of funds from risk assets, including cryptocurrencies. The agreement that brings oil prices back down towards $83 reverses that trend.
However, another factor remains a concern. A recent disclosure from Strategy indicated that it had sold 32 bitcoins to fund preferred share dividends, triggering a selloff and revealing how much of the cryptocurrency's demand was based on the assumption that Saylor would never sell.
ETF outflows have compounded this pressure, and neither of these issues concerning demand are resolved by a peace agreement. It remains to be seen whether institutional flows will shift with the renewed risk appetite or if bitcoin's recovery will stall once the implications of the Iran deal are fully factored in.