Bitcoin Price Surges Above $64,000 as Trump Pauses US Strikes on Iran

The Bitcoin price rebounded above $64,000 over the weekend as President Donald Trump paused US strikes on Iran. The move came after a series of intense military actions and diplomatic efforts by the US.

Tensions had been escalating between the US and Iran following attacks on Saudi oil tankers in the Red Sea. Brent crude prices rose above $100, while Iran targeted US and allied installations in Jordan, Bahrain, and Kuwait.

The pause in military strikes reduced the risk of further escalation, but geopolitical pressure remains a concern for Bitcoin traders. The asset's price has been struggling to break through the $65,000 to $67,000 resistance range, with spot ETFs recording over $465 million in net outflows across Thursday and Friday.

The decline in stablecoin transfers to exchanges also signaled less immediately available capital for short-term buying, according to CryptoQuant data. However, Bitcoin options data showed a decrease in put-call ratios and short-dated skew, indicating reduced demand for downside protection.