Bitcoin Taps $65K as Geopolitical Risks Fail to Deter Investors

Bitcoin's price surged to $65,000 on Tuesday as US stocks rebounded from two-week lows in response to rising tensions between the US and Iran.

The S&P 500 index bounced back from its lowest level since August 4, reaching 7,696, while Bitcoin broke through a key resistance level at $62,300.

Despite concerns over geopolitical pressure, investors seemed unfazed by the US-Iran rhetoric, with some analysts pointing to the potential for higher interest rates and inflation as a driver of the cryptocurrency's price increase.

Aksel Kibar, a trader and analyst, noted that Bitcoin must now come from its current level if it is to sustain its rebound, warning that failure to do so could send the price tumbling to $53,000.