A U.S.-Iran peace deal set for signing Friday could spark a broad rally across risk assets, a leading crypto analyst said, as Bitcoin(BTC)topped $67,000, a two-week high. Key Points: Moonrock
A U.S.-Iran peace deal set for signing Friday could spark a broad rally across risk assets, a leading crypto analyst said, as Bitcoin(BTC)topped $67,000, a two-week high.
Key Points:
- Moonrock Capital's Simon Dedic says a signed Iran deal could ignite a sharp move across crypto and equities.
- Bitcoin pushed past $67,000 on Monday, its strongest level in almost two weeks.
- The accord, due to be signed Friday in Switzerland, would reopen the Strait of Hormuz and cool oil prices.
Washington and Tehran announced a memorandum of understanding over the weekend, and Donald Trumpconfirmed the agreement in a post on Truth Social. The deal heads to a signing ceremony in Switzerland on Friday, Jun. 19, and pledges to reopen the Strait of Hormuz and extend the current ceasefire. Bitcoin climbed above $67,000, its best mark in two weeks, while crude oil slid more than 4% toward $83 a barrel.
Moonrock Capital founder Simon Dedicargued that crypto would reprice quickly once macro fear eases, since the asset class tends to lead when risk sentiment turns. He still cautioned that betting on Trump's next move was unwise, even as the proposed accord set up talks on Iran's nuclear program and the unfreezing of roughly $1 billion in seized crypto.
Also Read:Bitcoin Bulls Eye $67K After Trump Says Hormuz Will Open To All
Dedic pointed to several past conflicts to support his bullish thesis. The S&P 500 gained 44% in the year after the Korean War ended, and climbed 25% in the year after the Iraq war, he said. In 19 of 20 conflicts since World War II, he added, markets took about 28 days to fully recover once the fighting stopped.
Those who looked foolish through the recent slump, he wrote, will soon look like a genius.
Not everyone in the market shares that urgency. Ether(ETH), XRP(XRP) and Solana(SOL) all gained, while Hyperliquid(HYPE)'s token led with a jump near 8%, tracking Bitcoin's move higher.
Traders stayed wary after earlier Middle East truces fell apart, and spot Bitcoin funds logged a fifth straight week of outflows.
Bitcoin's bounce follows a brutal run that wiped out weeks of gains for the token. It slid below $60,000 last week for the first time since October 2024, and still trades down about 47% from its record. Buyers pushed through the $67,000 level on Monday, leaving the $68,000 zone as the next test for the rebound.
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