Bitcoin and Ethereum prices hovered near $66,552 and $1,998 respectively following geopolitical developments around US-Iran relations. While some analysts suggest ceasefire signals could extend the recent crypto recovery, caution remains as Iranian officials describe contacts as message exchanges rather than formal negotiations.
The Iran conflict has driven steep increases in oil price forecasts, with analysts expecting Brent crude to average $82.85 per barrel in 2026, up from $63.85 in February. Brent and US crude have gained about 60% since the conflict began, feeding directly into inflation concerns and rate repricing across global markets.
Crypto market maker Wintermute suggests credible diplomatic progress could leave short positions vulnerable to a squeeze toward $70,000-74,000. However, fresh escalation combined with oil pushing toward $120 would reopen a path toward the low $60,000s for Bitcoin, with potential further downside if cycle patterns hold.
