Trump Backing Iran Deal Boosts Bitcoin Toward $65K

Bitcoin prices edged closer to $65,000 as markets closed out the week, boosted by a developing US, Iran diplomatic signal. The potential peace deal signing on Sunday was seen as a catalyst for improved risk appetite in crypto assets.

The move appears more like consolidation than a breakout, but traders are watching the narrative closely. Easing geopolitical risk can improve sentiment and reduce downside pressure on liquid assets like crypto.

US President Donald Trump's statement that the Strait of Hormuz would be 'open to all' after the peace deal signing was seen as a signal for reduced disruption risk in global shipping corridors. This could have implications for energy prices and broader economic volatility, which may first manifest in liquid trading conditions before affecting longer-term positioning.

Traders are focusing on nearby resistance levels of $65,000 to $67,000, with some interpreting the rebound as technically constructive. The 200-week simple moving average (SMA) is seen as a still-functioning support level, despite historical skepticism about its reliability in bear markets.