Trump's Iran Hints Spark Bitcoin Rebound Above $63K

Bitcoin's price has rebounded above $63,000 after US President Trump hinted at negotiations with Iran, easing market fears. The cryptocurrency rose by 1.5% in a single day, sparking hopes that it could break through key resistance levels.

The recent rally above $64,000 is closely watched, and analysts warn that a close below $61,300 could lead to further declines. However, if Bitcoin manages to surpass the daily close level of $64,700, it could spark a significant relief rally.

Large holders have been accumulating 10,000 BTC this month, suggesting an accumulation phase, while blockchain data shows short-term holder losses typical near cycle bottoms. This has led some analysts to warn that a move above $66,000 would confirm a bullish chart pattern targeting $72,000, $74,000 in the coming weeks.

Meanwhile, Ethereum is leading a market recovery with institutional investors pouring $70.5 million into ETH products, especially Fidelity's FETH ETF which attracted $69 million. This influx marks five consecutive days of inflows and coincides with Ethereum's price surge.