Bitcoin (BTC) saw intraday highs after Thursday’s Wall Street open as US stocks rebounded on fresh Iran peace hopes.
Key points:
- Bitcoin joins a risk-asset rebound as US president Donald Trump said that Iran “wants to make a deal” after the ceasefire breakdown.
- Crypto short liquidations near $100 million over 24 hours.
- Traders see important BTC price levels coming as soon as the daily close.
Crypto, stocks rise as Trump teases new Iran “deal”
Data from TradingView showed BTC/USD rising back above $63,000, up by nearly 1.5% on the day.
BTC/USD one-hour chart. Source: Cointelegraph/TradingView
US stocks were in the green across the board, helping to erase Wednesday’s downside as US President Donald Trump said that the Iran peace deal was “over.”
“They called a little while ago; they want to make a deal so badly,” Trump subsequently said in comments quoted by trading resource The Kobeissi Letter and others.
Crypto markets joined the sense of relief, helping push 24-hour short liquidations to nearly $100 million, per data from CoinGlass.
BTC/USD vs. crypto liquidations (screenshot). Source: CoinGlass
Commenting on the latest BTC price setup, trader Killa described their view as “not bearish at all.”
“In my view, we still have a few more months of choppy PA,” an X post stated, eyeing $68,000 for a potential short entry.
Source: Killa/X
Fellow trader Jelle saw ongoing strength from bulls, with a support reclaim still possible.
“Looks like bulls aren’t giving up on the reclaim just yet,” he told X followers.
“Get back above, and we likely push for 65-70k again. Reject, and sub-60k is back on the menu for $BTC.”
BTC/USD 12-hour chart. Source: Jelle/X
Bitcoin price needs a $64,700 daily close
Continuing, trader Daan Crypto Trades emphasized $64,700 for the daily close.
Related: Bitcoin ETFs end ‘most overwhelming’ $2.7B sell-off amid new $85M net outflow
“$BTC is ranging $61.3K-$64.7K range and spent this morning climbing back up after yesterday’s risk-off flush,” his latest X analysis read.
“A daily close above $64.7K flips the story and would make for a larger relief rally across the board. A close under $61.3K opens the road to the lows again and kills the momentum.”
BTC/USD one-hour chart. Source: Daan Crypto Trades/X
As Cointelegraph reported, opinions on the bear-market bottom being in continue to diverge.
This week, analysis described a “textbook” bottom formation now underway, while BTC price-cycle comparisons continued to demand a deeper macro floor.
cointelegraph.com