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Crypto

Bitcoin Surges Above $65K Amid US-Iran Tension Pause

Guavy AI Editorial Team
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BTC
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Bitcoin prices rebounded above $65,000 following a pause in the US-Iran conflict, which caused oil prices to drop sharply and eased inflation concerns. Lower oil prices reduced fears of aggressive Fed rate hikes, boosting risk appetite and supporting Bitcoin's recovery.

The easing of tensions between the two nations led to a 10% drop in Murban crude oil prices, weakening the dollar and making Bitcoin more attractive to international investors.

Large holders moved $198 million worth of BTC, indicating increased confidence in the market. If Bitcoin reclaims its 20-3 day EMA near $65,600, it could target the $69,000, $70,500 resistance zone.

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