Bitcoin Approaches $65K Amid Imminent US-Iran Peace Deal
- Bitcoin (BTC) traded around $64,000 as of Sunday, following an announcement from US President Donald Trump regarding a peace deal with Iran.
- The Strait of Hormuz, a critical global oil route, is set to be “open to all” once the deal is signed.
- BTC reached local highs of $64,750 on Bitstamp before stabilizing.
- Traders noted that the Bitcoin price remains supported by the 200-week simple moving average (SMA).
- Open interest in Bitcoin futures is rising while funding rates are falling, indicating potential for sustained price strength.
The announcement of a peace deal has provided optimism among traders that selling pressure on Bitcoin may be easing, with key support levels holding firm. This situation could lead to significant trading activity as market sentiment shifts.
As Bitcoin hovers near $65K, traders are watching closely for any breakthroughs above this resistance level that could solidify bullish momentum.(Source)
