Bitcoin (BTC), the cryptocurrency, reached $64,000 in Sunday’s close of business as it appeared that a US/Iran deal was imminent.
Important points
- Bitcoin continues to rise as US President Donald Trump announces an Iran Peace Deal on Sunday.
- Strait of Hormuz – a vital global oil route – will be reopened. “open to all,” “He says”
- Bitcoin chart analysis shows that there are no active bearish patterns, as the open interest indicates a price recovery.
Iran peace deal keeps Bitcoin rebound afloat
TradingView’s data shows that Bitstamp has settled down after its local highs at $64,750.
BTC/USD one-hour chart. Source: Cointelegraph/TradingView
They accompanied the announcement made by US President Donald Trump on Saturday that a deal for peace would be signed Sunday.
“The Deal is scheduled to get signed tomorrow, and immediately after it is signed, the Hormuz Strait is OPEN TO ALL,” He wrote In a posting on Truth Social.
Truth Social
There was renewed hope among traders that the sell pressure was lessening on Bitcoin as a consequence. The 200-week moving average was a strong support for Trader SuperBro.
“In a word, constructive,” The price of BTC in the short-term is summarized. post on X.
SuperBro has dismissed any concerns that a bearish pattern is in action, and instead focused on the point of control level (nPOC), which appears on order books on exchanges above current spot prices.
“$65K-$67K is a big test, at the last swing low and volume POC. If we can rip through this zone then the bear case takes a massive hit,” The conclusion was that they were.
BTC/USD one-day chart. Source: SuperBro/X
Cointelegraph previously reported Despite the history of SMAs, there are still some misgivings regarding their 200-week SMA. “unreliable” It can be used as a protection net in the event of a bear market.
BTC key price set-up “finally happening”
Cryptic Trades continued to trade with an eye on a crucial combination of increasing open interest rates and declining funding rates at exchanges.
Related: Bitcoin miner ‘capitulation’ comes as trader sees later 2026 bear-market bottom
“It’s finally happening,” You can also find out more about us here. told What could be done to support a more durable BTC strength?
Cryptic Trading suggested current conditions demonstrated a lack belief from bulls. It removed the risk that new longs would be trapped in a downward trend.
“In other words, these aren’t longs aggressively chasing the move. These are bears doubling down, increasing their short positions, and betting that the downtrend isn’t over,” It is explained.
“This is exactly the kind of setup that generally marks durable bottoms. The market starts moving higher, sentiment remains overwhelmingly bearish, and the most keep leaning the bearish. This is how aggressive short squeezes are born.”
BTC liquidation heatmap. Source: CoinGlass
The Data of CoinGlass Showed that local highs correlated with a broad band of short-term liquidations.
“This article is not financial advice.”
“Always do your own research before making any type of investment.”
“ItsDailyCrypto is not responsible for any activities you perform outside ItsDailyCrypto.”
Source: cointelegraph.com
