Bitcoin reclaimed the $65,000 level on Monday, June 22, 2026, after the U.S. Treasury Department issued a general license temporarily authorizing the production, delivery, and sale of Iranian crude oil, petroleum products, and petrochemicals. The license is valid until August 21, 2026, and represents a partial suspension of energy sanctions rather than a complete lifting.
Treasury Secretary Scott Bessent linked the decision to ongoing productive talks in Switzerland, noting that Iran had committed to maintaining free and open transit through the Strait of Hormuz and to allowing International Atomic Energy Agency (IAEA) inspectors back into its nuclear facilities. The move coincided with reports that the U.S. and Iran had established a framework for a final peace agreement within 60 days.
Oil prices fell to around $74 per barrel, their lowest since early March, easing concerns over Middle East supply disruptions and inflationary pressures. The improving geopolitical backdrop lifted risk appetite across markets: Bitcoin rallied over 3.5% from an intraday low of $63,231 to a high of $65,468, gold rose 1.1%, and silver advanced nearly 3%. Shipping data confirmed that vessel traffic through the Strait of Hormuz had returned to normal levels, with 71 confirmed transits recorded in just three days.
From a technical perspective, Bitcoin broke out of a multi-week symmetrical triangle pattern on the 4-hour chart. The move reclaimed the $65,150 support zone, but the asset now faces key resistance near the $68,200–$68,500 area, where the 38.2% Fibonacci retracement and daily Supertrend indicator converge. Analyst Lennaert Snyder cautioned that the advance appeared driven by a short squeeze rather than a full trend reversal, emphasizing that the $68K–$69K liquidity cluster remains a critical level to watch. Failure to establish $65,000 as support could send Bitcoin back toward $63,200, while $62,000 remains the next significant floor.
