Bitcoin gained momentum on Monday after weekend developments suggested easing tensions in the Middle East, pushing the leading cryptocurrency back above the $65,000 level for the first time since late last week.
The broader crypto market also moved higher, with many major altcoins posting gains. Ethereum led the recovery, briefly reaching nearly $1,980 — its highest price level in almost two months — before giving back a small portion of those gains.
Bitcoin Regains $65K Territory
Bitcoin entered last week with strong momentum, surging from below $64,000 to around $67,000 in roughly a day and a half, marking a new monthly high. However, the rally lost steam, and BTC began pulling back.
The asset dropped to approximately $65,500 midweek before another decline pushed it below the $65,000 mark. A recovery attempt on Friday lifted Bitcoin near $65,750, but sellers stepped in and forced another retreat.
The downward move continued until BTC found support around the $63,000–$64,000 area over the weekend. Market sentiment improved after reports of reduced geopolitical tensions, including renewed discussions involving Oman and potential efforts related to reopening the Strait of Hormuz.
While the weekend news had a limited immediate effect, Bitcoin reacted more noticeably on Monday, climbing toward $65,600 on Bitstamp. Although it faced resistance at that level, the cryptocurrency remained above $65,000 at the time of writing.
Bitcoin’s market capitalization moved back above $1.3 trillion, while its dominance across the crypto market remained close to 57%.
Ethereum Drives Altcoin Recovery
Ethereum posted one of the strongest performances among major cryptocurrencies, reaching $1,980 for the first time since early June. Despite a slight pullback afterward, ETH remained up roughly 4.5% over the previous 24 hours and traded above $1,960.
Other large-cap tokens also recorded gains, including AAVE, which climbed about 9%, ONDO with an 8% increase, UNI rising around 6.5%, and LINK advancing roughly 4.6%. PUMP delivered an even stronger move, gaining more than 11%.
Several other major assets, including BNB, XRP, Solana, TRX, RAIN, HYPE, and ZEC, also posted positive daily moves, though their gains were more limited.
Meanwhile, some cryptocurrencies moved lower. Monero and Dogecoin declined between 1% and 3%, while Shiba Inu fell more than 8% following a sharp rally the previous day that had pushed the token to a multi-month high.
The total cryptocurrency market capitalization increased by approximately $30 billion over the past day, reaching around $2.31 trillion, according to CoinGecko data.
