Bitcoin Soars as US-Iran Talks Progress: Will it Hit $65,000?

Bitcoin (BTC) has rebounded from its Monday low of $62,210 to retake the $64,000 level. The cryptocurrency reached an intraday high of $64,497 on Tuesday and is currently trading around $64,122.

A close above $65,000 could pave the way for a move towards $66,000 and July's high of $67,975, but buyers must first overcome resistance between $64,000 and $65,000. The Relative Strength Index (RSI) is currently in neutral territory at 51, while the Moving Average Convergence Divergence (MACD) suggests bulls have a slight advantage.

Bitcoin's latest recovery began after Qatar confirmed that mediators were working to reopen negotiations between the US and Iran. Majed Al-Ansari, Qatar's Foreign Ministry spokesperson, stated that Doha aims to restore normalcy in the Strait of Hormuz and was working with other regional countries to mediate between Washington and Tehran.