Bitcoin Approaches $65K Amid US-Iran Peace Deal Announcement
- Bitcoin (BTC) traded around $64,000 as a peace deal between the US and Iran was expected to be signed.
- US President Donald Trump stated that the Strait of Hormuz would be “open to all” after the signing.
- Trading data showed BTC reaching local highs of $64,750 on Bitstamp before settling.
- Analysts reported no bearish chart patterns, suggesting a potential price rebound.
- The current price action is supported by the holding of the key moving average at $65K-$67K.
The announcement of an imminent peace deal has contributed to a positive sentiment in the Bitcoin market, with traders noting a decrease in selling pressure and increased support levels.
As Bitcoin approaches critical resistance levels between $65K and $67K, analysts believe overcoming this zone could significantly impact bearish trends. (Source)
