Crypto Market Mixed as Bitcoin Approaches $65,000 Ahead of Iran-Oman Deal

The cryptocurrency market is experiencing a mixed outlook on Thursday, with Bitcoin (BTC) approaching $65,000 and Ethereum (ETH) holding above $1,900. However, Ripple (XRP) is trading under pressure around $1.05.

The market's lethargic state comes ahead of a potential deal between Iran and Oman on the management of shipping through the Strait of Hormuz. Despite progress, Iranian Deputy Foreign Minister Kazem Gharibabadi emphasized that any agreement would not necessarily guarantee the immediate reopening of the waterway.

Bitcoin is holding a short-term bullish bias as it trades above the 50-day Exponential Moving Average (EMA) at $64,673 and above the reclaimed downtrend resistance trendline around $63,514. Momentum is constructive, with the Relative Strength Index (RSI) hovering near 54 and the Moving Average Convergence Divergence (MACD) line turning slightly positive.

Ethereum, on the other hand, trades at $1,913, holding above the 50-day EMA at $1,856 and the broken rising trendline support near $1,859. However, the pair remains capped beneath the 100-day EMA at $1,925 and the 200-day EMA at $2,134.

XRP, meanwhile, maintains a bearish near-term bias as the spot price holds beneath the 50-day EMA at about $1.11, the 100-day EMA near $1.20, and the 200-day EMA around $1.39.