BTC Surges Above $64K as Markets Price in Reduced Middle East Risk
Bitcoin's price has rebounded from a recent dip to $62,200, surging by around $2,000 to trade above $64,000.
The recovery is attributed to reduced Middle East risk, following an Axios report that the US, Iran, and Oman are nearing an interim agreement to reopen the Strait of Hormuz.
According to the report, President Trump wants the confirmation to be announced today, which could further support market momentum and adoption.