Bitcoin (BTC) retains a near-term bullish bias, trading above $66,000 at the time of writing on Tuesday. The slight bullish outlook comes amid easing geopolitical tensions in the Middle East, with the United States (US) and Iran reportedly having signed a virtual peace agreement to reopen the Strait of Hormuz and end the blockade of Iranian ports.

Altcoins, including Ethereum (ETH) and Ripple (XRP), hold above recently reclaimed key support levels at $1,700 and $1.23, respectively. However, their upside appears capped after encountering supply pockets at $1,800 for Ethereum and near $1.23 for XRP.

Sentiment in the broader crypto market is gradually improving, as reflected in the Fear & Greed Index at 23 in the Extreme Fear territory on…