Bitcoin Tops $73,000 for First Time in 22 Days as Mideast Ceasefire Uncertainty Lingers

Bitcoin rose above $73,000 intraday, supported by relief that a temporary ceasefire between the U.S. and Iran may hold.

On Binance's Tether market on July 9, Bitcoin touched $73,145 at one point. It was the first time in 22 days, since June 18, that the cryptocurrency traded above $73,000. It later gave back some gains and was trading around $72,680.

Bitcoin had recently fallen to the $71,000 range amid uncertainty over a ceasefire tied to the Iran conflict. It rebounded after a statement from Israeli Prime Minister Benjamin Netanyahu.

Netanyahu said he would begin direct talks with the Lebanese government aimed at disarming Hezbollah and establishing relations. Ceasefire uncertainty persists, however. An Israeli official drew a line, saying 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 render negotiations meaningless, he added.

That has hampered efforts to resume shipping through the Strait of Hormuz. Russia's TASS news agency reported that a senior Iranian source said Tehran would limit vessels passing through the strait to fewer than 15 a day despite its agreement with the U.S.