Bitcoin price recovered over $64,000 after Pakistan said a US-Iran peace deal could be finalised within 24 hours, giving crypto markets a short-term lift after days of geopolitical tension.
Pakistani Prime Minister Shehbaz Sharif said the two sides were “closer to a peace deal than ever before.” He said Pakistan was preparing for an electronic signing once the deal is finalised, with technical-level talks expected next week.
The statement gave traders a clearer de-escalation signal. Crypto prices moved higher soon after, although the market reaction remained measured.
A Relief for Bitcoin?
Bitcoin traded around $64,100, up roughly 1.2% to 1.4% over 24 hours, based on major market trackers. The total crypto market also rose by about 1%, placing the global market value near $2.2 trillion.
However, sentiment remains weak. The Crypto Fear and Greed Index was still near 20, which points to fear in the market. That shows traders are buying the peace-deal headline, but they are still cautious.
Bitcoin’s four-hour chart shows the same picture. BTC has recovered above its short-term moving averages, including the 20 EMA, 50 EMA, and VWAP area. That suggests panic selling has cooled.
Still, larger resistance levels remain above the current price. Bitcoin is below the 100 EMA near $66,100 and the 200 EMA near $69,650.
A break above the $66,000 area would give the recovery stronger technical support.
Momentum has improved. The four-hour RSI sits near 59, which shows buyers have regained control without pushing the market into overheated territory. Volatility is also falling, based on the ATR reading.
For now, crypto markets are treating the peace-deal claim as positive. A signed agreement could extend the relief move, while any delay or fresh military incident could quickly pressure risk assets again.