Bitcoin crossed $66,000 on reports of a U.S.-Iran peace deal, a geopolitical catalyst that typically compresses risk premiums and drives capital into risk assets including crypto. The move represents a meaningful technical level after Bitcoin had been consolidating below prior highs, and geopolitical de-escalation historically reduces the safe-haven demand that had been suppressing speculative positioning.

The second-order question is durability: headline-driven crypto surges tied to geopolitical events frequently retrace 50-70% within 48-72 hours as markets digest actual deal terms versus initial optimism. Key things to watch include formal confirmation of deal terms, whether traditional risk assets (equities, oil) corroborate the move, and whether Bitcoin can hold $66k on a closing basis.