Bitcoin Approaches $65K Amid Imminent US-Iran Peace Deal Announcement
- Bitcoin (BTC) traded around $64,000 as a peace deal between the US and Iran was announced by President Donald Trump.
- The Strait of Hormuz, a vital global oil route, is set to be “open to all” following the agreement.
- BTC reached local highs of $64,750 on Bitstamp before settling down.
- Traders noted that the Bitcoin price remained above the critical support level of the 200-week simple moving average (SMA).
- Rising open interest and falling funding rates on exchanges suggest potential for sustainable price strength.
The announcement of a peace deal has provided optimism among traders, easing sell pressure on Bitcoin. Analysts are watching key resistance levels between $65K-$67K as potential breakout points for BTC prices.
As Bitcoin hovers near $64,000, the market’s response to geopolitical developments could influence its trajectory significantly in the coming days. (Source)
