Bitcoin price taps $65.5K as Iran deal sees oil drop toward 16-week low

Bitcoin surged to $65.5K as market dynamics shifted following a new deal involving Iran, which has led to a significant drop in oil prices, nearing a 16-week low. The agreement is expected to increase Iranian oil exports, contributing to a global supply surplus that has pressured crude prices downward. This development has sparked renewed interest in cryptocurrencies, with investors seeking alternatives amid fluctuating oil markets. As Bitcoin reaches this new high, analysts are closely monitoring the correlation between energy prices and digital assets, highlighting the evolving landscape of investment strategies.