Bitcoin climbed back above $65,000 on July 27, 2026, as the United States and Iran paused military strikes for a second consecutive day, driving oil prices lower and prompting a return to risk-on trading across global markets.
The price of Bitcoin rose 1.2% over 24 hours, while Ether outpaced the market leader with a 3% gain to nearly $1,950, alongside modest increases in Solana and XRP.
A 4.7% drop in Brent crude to $92.19 per barrel helped ease immediate inflation worries, though traders remain focused on the upcoming Federal Reserve policy decision on July 28–29.
"Prices are also responding to macro developments," Vikram Subburaj, CEO of India-based FIU-registered Giottus exchange, said.
"Brent crude's 4.7% fall to $92.19 has eased some inflation concerns, but the July 28-29 Federal Reserve meeting remains the immediate risk.
Markets are assigning a 36.3% probability to a 25-basis-point rate increase."
Subburaj noted that while Ether gained over 3% as capital rotated into alternative digital assets, Bitcoin's 58.6% market dominance indicates that a broader altcoin rally has not yet materialized.
Analysts Eye Cyclical Bottom
Other market analysts evaluated long-term historical patterns to determine potential cyclical bottoms for the asset.
"The time between each Bitcoin Halving and the bottom of the following Bear Market has been approximately 900 days," Joao Wedson, founder and CEO of analytics firm Alphractal, said.
"The current cycle is already at day 827.
Based on this pattern, we can say that Bitcoin is already building its price bottom, with a potential final bottom forming sometime within the next two months."
The temporary halt in military action follows fresh U. S.
airstrikes against Iranian targets in late July, which briefly sent Bitcoin sliding below $64,000 and sparked liquidations across alternative cryptocurrencies.
The U. S.
administration indicated that it aimed to preserve room for potential diplomatic negotiations while maintaining military pressure in the region.
The diplomatic posture aims to give talks with Iran "some space," U. S.
Ambassador to the United Nations Mike Waltz said on Fox News.
Recent geopolitical volatility follows a broader mid-year market drawdown, during which Bitcoin closed the first half of 2026 down 32% since January, staying more than 50% below its October 2025 record high of $126,000, according to Binance Research.
On-chain data compiled by the firm showed 10.83 million BTC ended the first half in unrealized loss compared to 9.22 million units in profit, marking the first loss-over-profit crossover of the current cycle, alongside $5.4 billion in U.
S. spot Bitcoin ETF net outflows.
