-- price rose on Monday, recovering a measure of steep losses over the weekend as risk appetite was battered by an Iranian strike against Israel, which also pushed the dollar up to five-month highs.

The rose 1.6% in the past 24 hours to $65,439.5, after sliding as low as $61,000 over the weekend. 

Bitcoin price under pressure from Iran-Israel jitters 

Bitcoin was battered chiefly by worsening risk appetite, after Iran launched a drone and missile strike against Israel on Saturday. This saw traders pivot largely into safe haven assets such as the dollar and gold. 

The surged to a 5-½ month high, while gold prices briefly hit record highs.

Strength in the dollar was a key point of pressure on Bitcoin, given that it usually benefits from increased risk appetite in markets. The token has largely performed in contrast to the idea that it is a digital safe haven. 

But Bitcoin saw some relief amid signs that the Iran-Israel conflict may not escalate further. Iran signaled it had concluded its strike against Israel, while Israeli ministers were also reported to be considering no immediate retaliation.

Crypto price today: altcoins recover from weekend slump, but rate jitters weigh 

Other major cryptocurrencies also rose on Monday, recovering from a slump over the weekend. 

World no.2 crypto rose 3.7% to $3,187.78, while and added 7% and 3%, respectively.

But any major gains in crypto were also held back by the prospect of higher-for-longer U.S. interest rates, following hotter-than-expected inflation data and hawkish Federal Reserve signals from last week.

Traders were seen largely pricing out bets that the Fed will begin cutting interest rates in June- a scenario that bodes poorly for crypto markets. 

Cryptocurrencies usually benefit from a low-rate, high-liquidity environment- a factor that was a key driver of the 2021 bull run.

Gains this year, however, were biased largely towards Bitcoin, as capital flows surged into the recently-approved spot Bitcoin exchange-traded funds in U.S. markets. 

But this capital flows were also seen slowing in recent weeks, drumming up more uncertainty over the potential for more gains in Bitcoin. 

The token flitted largely between $60,000 and $70,000 for a month after hitting record highs of over $73,000 in early-March.