Bitcoin at $64K+ as US spot ETF inflows surge and Iran peace nears
Bitcoin rose above $64,000 on Saturday, reaching about $64,200 intraday. The move is up roughly 8% from Bitcoin’s June low near $59,000 and could end a four-week losing streak if gains hold into the weekly close.
A key driver was inflows into U.S. spot Bitcoin ETFs. Net inflows totaled $85.9 million on Friday, the largest daily figure since May 14. This supports risk sentiment and reduces the chance of sustained spot selling.
Geopolitical optimism also helped. Pakistan’s Prime Minister said on X that a peace agreement with Iran is “closer than ever,” with finalization expected within 24 hours, followed by electronic signing and technical-level talks next week. Traders often treat de-escalation headlines as a near-term sentiment tailwind for liquid assets, including BTC.
The article also notes a sell-pressure dynamic previously linked to ETF holders. A Standard Chartered analyst said ETF investors had been liquidating positions anecdotally to free cash for SpaceX’s IPO. After the IPO launch on Friday, analysts expect that selling pressure may ease.
For traders, the combination of Bitcoin ETF inflow momentum and improving macro/geopolitical headlines increases the odds of continuation—though momentum could fade if inflows slow or headlines reverse.
Bullish
This news is bullish for BTC in the near term. First, Bitcoin’s price breakout above $64,000 is paired with strong, measurable demand: $85.9M net inflows into U.S. spot Bitcoin ETFs—the largest daily amount since May 14. ETF inflows have historically translated into steadier spot buying, which can help BTC sustain higher levels after a drawdown.
Second, the Pakistan-Iran peace-deal optimism functions as a sentiment tailwind. In past “de-escalation” headlines, crypto often benefits through reduced risk premium and improved liquidity conditions, especially when BTC is trading around well-defined technical levels like $60K+.
Third, the article suggests prior ETF-related selling pressure tied to cash needs for SpaceX’s IPO may ease after the launch. When an expected source of forced selling fades, momentum traders tend to re-enter, reinforcing uptrends.
However, the bullish case has a volatility risk. If ETF inflows decelerate or geopolitical headlines deteriorate, BTC could retrace quickly—particularly if the market interprets the peace-deal timeline as uncertain. Longer term, sustained inflows and a stable macro backdrop would support a trend reversal from the recent four-week losing streak; otherwise, this could remain a sentiment-driven rally rather than a durable cycle shift.