Bitcoin Tops $73,000 for First Time in 22 Days as Mideast Truce Relief Lifts Prices

Bitcoin rose above $73,000 intraday, with gains supported by relief that a temporary ceasefire between the U.S. and Iran was holding.

On July 9, Bitcoin briefly touched $73,145 on Binance's Tether (USDT) market, according to exchange data. It was the first time in 22 days, since June 18, that the cryptocurrency traded in the $73,000 range. The rally later lost steam, and Bitcoin was recently trading around $72,680.

Bitcoin had recently fallen toward $71,000 amid uncertainty over the Iran war ceasefire. It rebounded after Israeli Prime Minister Benjamin Netanyahu issued a statement.

Netanyahu announced that Israel would begin direct talks with the Lebanese government aimed at disarming Hezbollah and establishing relations. Uncertainty over a ceasefire remains, however, after an Israeli official said there would be no ceasefire with Lebanon.

Iranian President Masoud Pezeshkian said Israel's attack on Lebanon violated the initial ceasefire agreement. Continued attacks would make negotiations meaningless, he added.

That has complicated efforts to resume traffic through the Strait of Hormuz. A senior Iranian source told Russia's TASS news agency that ships passing through the strait would be limited to fewer than 15 a day despite the agreement with the U.S.