Key Takeaways:
- BTC jumped 3.5% to $64,200 within minutes on US-Iran deal optimism
- The rebound followed a 14% weekly decline that pushed BTC below $60,000
- WTI crude rose 3% as Asian equities tumbled on geopolitical tensions
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Bitcoin jumps to $64,200 on optimism over potential US-Iran deal
Bitcoin rose 3.5% to $64,200 within minutes on optimism over a potential US-Iran agreement, after a weekly decline of nearly 14%.
Trump said he requested Israeli Prime Minister Benjamin Netanyahu "not to retaliate" after Iran and Israel traded airstrikes, according to an interview with Axios.
The rebound followed a brutal week that pushed BTC from near $73,000 to $59,100 before buyers reclaimed the $60,000 level. WTI crude futures jumped over 3% to $93.50 as the military escalation rattled energy markets, while South Korea's KOSPI fell 6.8% and Japan's Nikkei dropped over 3%.
Bitcoin has already fallen nearly 14% last week after Strategy's BTC sale, the AI stock frenzy and capital outflows from spot bitcoin ETFs. Volatility could remain elevated this week as US inflation data and major IPOs from SpaceX and Anthropic are expected to influence liquidity dynamics.
The rapid price swing liquidated $504 million in short positions across crypto exchanges, the most since late April, as bears were caught off guard by the sudden reversal. Bitcoin traded at around $62,900 as of 04:00 UTC on Monday, according to CoinDesk data.
If a formal US-Iran agreement materializes, it may reduce safe-haven demand for the US dollar and drive capital into alternative assets including Bitcoin, potentially reversing last week's steep losses. The $60,000 level now serves as key support, with resistance at the $65,000 mark.
This article is for informational purposes only and does not constitute investment advice.
[1] BTC Spikes to $64K on Fresh Optimism Around a Potential US-Iran Agreement[2] Bitcoin falls back below $63,000 as Iran-Israel trade strikes and Korean stocks crash[3] Silver Price Forecast: XAG/USD holds losses near $67.00 as Middle East tensions escalate[4] Silver Price Forecast: XAG/USD extends decline to near $66.50 as bond yields rise further[5] 100 days of the Iran war: How global markets and the economy have been affected, in charts
