US-Iran Ceasefire Extension Report Triggers Bitcoin Price Recovery
Bitcoin's price has recovered above $63,600 on Monday after dipping towards $62,650 earlier in the day. The rebound was driven by conflicting reports about whether the United States and Iran had agreed to extend a ceasefire framework that expired on August 17.
A regional report claimed that Washington and Tehran had reached an agreement to prolong the arrangement, but neither government has publicly confirmed this as of press time.
The negotiation period ended without a final peace agreement. During the recovery, trading activity increased, with reported 24-hour volume reaching about $14.8 billion.
U.S. funds posted roughly $390 million in net withdrawals last week, reversing the prior week’s inflows and marking their heaviest weekly outflow in six weeks.