According to Santiment, a leading on-chain analytics platform, the recent peace agreement between the United States and Iran has significantly boosted investor confidence in the cryptocurrency market. Bitcoin has surged over 11% from its early June lows, driven by a shift in market sentiment from fear to opportunity. Santiment noted that traders had been preoccupied with concerns over supply disruptions, inflation, and geopolitical instability, but the deal has redirected focus toward trade reopening and reduced economic uncertainty.
The peace deal, announced by President Donald Trump, includes the toll-free reopening of the Strait of Hormuz and an end to the U.S. naval blockade, with a formal signing scheduled for June 19 in Switzerland. This development has led to a rotation of capital into risk assets like Bitcoin, Ethereum, XRP, and Solana, while oil prices have declined. Bitcoin traded above $66,600, and the total crypto market cap remained above $2.36 trillion.
On-chain data from Glassnode supports the bullish narrative, showing that accumulation activity increased as Bitcoin dipped into the $60,000 range. The Accumulation Trend Score indicated broad buying across multiple wallet cohorts, suggesting investors absorbed supply rather than selling off. This pattern hints at renewed demand from various investor segments.
Despite the positive momentum, caution persists, as over $4.8 billion has exited U.S. spot Bitcoin ETFs since May. Santiment emphasizes that the rally may be more than a temporary relief, potentially marking the start of a larger bull cycle if inflation eases and institutional comfort grows. The firm argues that improving sentiment, falling oil prices, and renewed demand create favorable conditions for further gains.