Bitcoin is trading near $65,550 after reclaiming the $65,000 level on the Iran peace announcement over the weekend. The coin has recovered sharply from the $59,130 low reached at peak geopolitical stress earlier in June. The 4-hour chart structure remains technically weak. is still below its 50 and 200 EMAs across multiple timeframes.
Resistance is stacked at $66,000 to $66,200. A sustained break above that band opens the path toward $67,500 and $68,000. On the downside, $64,200 is the near-term floor to hold. A break below that level exposes $63,300 and $62,500.
Akshat Siddhant, Lead Quant Analyst, Mudrex, stated, “Bitcoin has reclaimed the $65,000 level following the announcement of a US-Iran peace agreement, which improved risk sentiment across global markets. The development triggered sharp reactions across oil, gold, and crypto, with investors moving back into risk assets.”
He further added, “Adding to the positive momentum, Bitcoin ETFs recorded net inflows of $85.8 million on Friday, ending a five-day streak of outflows. Markets are now focused on the June 19 signing in Switzerland, which will be key to assessing the durability of the agreement. If buying pressure remains strong and the deal progresses smoothly, Bitcoin could move toward the $74,000 level. Downside risk remains with support standing at the $61,000 level.”
Riya Sehgal, Research Analyst, Delta Exchange, noted, “The crypto market is seeing a sharp relief bounce as macro risk sentiment improves after the US-Iran peace deal headlines and the expected reopening of the Strait of Hormuz. Lower crude oil prices have eased inflation concerns and supported risk assets, helping Bitcoin reclaim the $65,000 zone.”
She further added, “This should still be viewed as a recovery rally, not a confirmed bullish reversal. The immediate technical test is the $65,800 to $66,200 resistance band. A sustained close above this zone can open room toward $67,500 to $68,000, while failure to hold above $64,200 could bring the market back toward $63,300 and $62,500. Spot Bitcoin ETFs turning positive is encouraging, though Ether ETF demand remains weak.”
WazirX Market Desk noted that risk sentiment has improved after the and the reopening of the Strait of Hormuz, pushing oil prices lower and supporting global risk assets. Bitcoin is trading near $65,550 while Ethereum holds near $1,717, both posting gains over the past 24 hours. Market participants are closely watching the $66,000 and $67,000 levels for Bitcoin as the next important resistance zones in the near term. The week ahead will also be shaped by the Federal Reserve’s policy decision, and investors will be closely watching Warsh’s commentary on inflation and the forward rate trajectory.