Bitcoin price eyes $66K as US stocks rise on Iran-strike pause

Bitcoin (BTC) sought to build on local highs at Monday’s Wall Street open as US stocks opened in the green.Key points:Bitcoin approached new local highs with the start of the week’s first US trading session.Stocks also opened higher amid relief over a hiatus in the US-Iran war and potential progress on reopening the Strait of Hormuz.BTC price action defended two daily moving averages on Sunday’s weekly close.Bitcoin follows stocks higher as Iran news offers risk-asset tailwindData from TradingView showed BTC/USD spiking to near $66,000 as markets reacted to a pause in strikes between the US and Iran. BTC/USD one-hour chart. Source: Cointelegraph/TradingViewAdditional reports cited an Iranian foreign ministry spokesman announcing that Tehran and Oman were “trying to establish mechanisms regarding maritime traffic” through the Strait of Hormuz, a key global oil route currently closed.US WTI crude oil fell toward $82 per barrel on Monday before a modest rebound. The S&P 500 and Nasdaq Composite Index were both up by around 0.3% at the time of writing.CFDs on US WTI crude oil one-hour chart. Source: Cointelegraph/TradingViewAcknowledging a potential stumbling block in the form of h...