Bitcoin Rises on Risk-On Sentiment Amid Easing Tensions with Iran

The BTC/USD pair continued its upward momentum for the second consecutive day on July 27th, fueled by a risk-on sentiment among traders. This followed the US and Iran's decision to pause their attacks over the weekend.

Bitcoin surged to $64,500, just above last week's low of $63,650. The price increase was attributed to the easing tensions between the two nations, which led to a decrease in oil prices. However, there are potential risks ahead that could impact Bitcoin's performance.

Firstly, Trump and Iran may decide to restart their strikes this week, resulting in higher energy prices and inflation. Secondly, the Federal Reserve is likely to deliver a hawkish interest rate decision this week, which could lead to rising bond yields and a subsequent increase in interest rates later this year.

The BTC/USD pair has been in an uptrend over the past few weeks, forming an ascending channel on its daily chart. The coin has settled at the 25-day Exponential Moving Average (EMA), while the Relative Strength Index (RSI) has stalled at the neutral point of 50.