Bitcoin hovered near 65,800 dollars, or about 62.3 lakh rupees, on Monday amid broader gains in digital assets driven by stronger global risk appetite. The leading cryptocurrency posted a weekly advance of 1.98 percent. Ethereum traded close to 1,700 dollars, roughly 1.63 lakh rupees, as positive momentum spread through the sector. Current Indian prices placed Bitcoin around 62 lakh rupees and Ethereum near 1.62 lakh rupees based on the latest tracker data.

Market observers highlighted that the newly announced peace agreement, paired with renewed capital flows into Bitcoin ETFs, encouraged a risk-on environment spanning equities, commodities, and virtual currencies.

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Most alternative coins also posted gains on Monday that tracked Bitcoin's movement. Binance Coin stood near 617.07 dollars, or about 58,450 rupees, while Solana reached 71.30 dollars, roughly 6,750 rupees. XRP traded around 1.18 dollars, or 112 rupees, and Dogecoin sat close to 0.089 dollars, equivalent to 8.4 rupees, reflecting broader confidence in major tokens.

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Commenting on the setup, Akshat Siddhant, Lead Quant Analyst at Mudrex, noted that the peace accord prompted a wide risk-on reaction across commodities, equities, and digital assets. He added that 85.8 million dollars, or roughly 81.3 crore rupees, in net inflows to Bitcoin ETFs on Friday ended five straight sessions of outflows. Focus now moves to the June 19 signing in Switzerland and whether the upbeat tone persists.

Offering a wider view, Vikram Subburaj, CEO of Giottus.com, observed that US spot Bitcoin ETFs saw notable outflows in early June, indicating large investors grew cautious after prior rallies. Markets are also watching the June 16-17 Federal Reserve meeting for new signals on rates and inflation. He advised against chasing short-term rallies ahead of that decision.

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Analysts concluded that easing geopolitical strains and the return of ETF inflows provided a sentiment lift to crypto markets. Still, the Federal Reserve gathering stands as the pivotal event that could shape whether the recovery extends. Bitcoin holding above 65,000 dollars, or about 61.6 lakh rupees, and a potential return to the 66,000-dollar zone, or roughly 62.5 lakh rupees, will be key to sustaining near-term bullish momentum.

Cryptocurrency is an unregulated digital currency, not a legal tender and subject to market risks. The information provided in the article is not intended to be and does not constitute financial advice, trading advice or any other advice or recommendation of any sort offered or endorsed by NDTV. NDTV shall not be responsible for any loss arising from any investment based on any perceived recommendation, forecast or any other information contained in the article.