Trump's Iran Deal Boosts Bitcoin Bulls Toward $67K Resistance

Bitcoin's recent price action has been driven by news from Donald Trump, who stated that an Iran peace deal would be signed on Sunday and immediately reopen the Strait of Hormuz.

The statement helped maintain the cryptocurrency's rebound momentum, with traders eyeing resistance levels near $65,000 and $67,000.

SuperBro, a trader on X, noted that the 200-week simple moving average is still acting as support, calling it 'constructive' in his analysis.

Cryptic Trades highlighted rising open interest combined with falling funding rates across exchanges, suggesting that bears may be adding shorts into the rebound, potentially creating conditions for a short squeeze if prices continue to rise.