BTC Flirts with $64K as US-Iran Tensions Ease, SpaceX IPO Looms

BTC/USD reached new local highs near $64,000 in US trading, influenced by improved risk-asset sentiment tied to hopes of a US, Iran de-escalation.

However, analysts remain cautious as key technical levels may not hold as previously thought. Rekt Capital pointed out that the 200-week SMA near $62,025 has historically failed to provide reliable support in the past.

The market's macro backdrop remains mixed, with inflation concerns and labor market strength competing for attention. This can lead to volatility in crypto markets.

SpaceX's upcoming IPO is also drawing attention from traders, who may be influenced by its potential impact on day-to-day sentiment and cross-asset flows.