A renewed closure could disrupt global oil shipments and raise energy prices. Such a move may reduce demand for risk assets, including Bitcoin, as traders move toward safer holdings.
On the other hand, a lasting ceasefire could remove part of the geopolitical pressure affecting crypto and stock markets. has remained within a narrow range as investors wait for clearer details from the negotiations.
Technical data shows support near the 78.6% Fibonacci retracement level of $63,150. Bitcoin also trades close to its 200-week simple moving average near $62,000.
If Bitcoin holds above $63,150, the price could test $65,000. A break below the support area may open another move toward $62,000. The seven-day simple moving average near $64,670 forms the next short-term level for buyers.