Bitcoin rallies on reports of US-Iran peace agreement

The cryptocurrency market, including Bitcoin, saw a broad-based rally today following reports of an end-of-war agreement between the U.S. and Iran, The Block reported. Market experts analyze that the news of the peace accord has improved risk appetite among investors. Dominic John, an analyst at Zeus Research, said the market is repricing risk premiums following reports of the peace deal and the reopening of the Strait of Hormuz. He noted that a "risk-on" trend is being observed across various asset classes. John added that Bitcoin's rebound is a phenomenon driven by investors adjusting their positions and capital moving into riskier assets, rather than a fundamental change within the market itself.