Bitcoin Price Rebounds Amid US-Iran Ceasefire Uncertainty
Bitcoin price has rebounded to above $63,600 after dipping towards $62,650 earlier in the day. The recovery came as traders reacted to conflicting reports over whether the United States and Iran had extended a 60-day ceasefire framework.
A regional report said Washington and Tehran had agreed to extend the arrangement that reached its deadline on August 17, but neither government has publicly confirmed a new extension.
The Strait of Hormuz traffic remains severely restricted, with only five commodity vessels crossing the strait on Saturday compared to more than 130 daily ship transits before the war began in February. President Donald Trump added to regional uncertainty by threatening military action against Oman if it interfered with U.S. objectives involving Iran and the Strait of Hormuz.
Bitcoin's recovery keeps the $61,900-$62,500 area as the main short-term support zone, while the next major resistance sits between $64,900 and $65,500. A sustained move above it could bring the $67,200-$67,500 resistance area back into focus.