Bitcoin Reclaims $66K as Trump Flags Hormuz Shipments and ETF Inflows Rise
Bitcoin (BTC) reclaimed the $66,000 level after U.S. President Donald Trump said oil ships were moving through the Strait of Hormuz, and reports pointed to a tentative U.S.-Iran peace agreement.
On June 15, BTC rose about 5% to an intraday peak near $66,829 and was trading around $66,460 at press time. The risk-on bounce coincided with a sharp drop in crude oil—down about 5.7% to a two-month low below $80—unwinding part of the geopolitical risk premium.
Market positioning also shifted quickly. More than $168 million in BTC short positions were liquidated as price broke back above a key resistance area near $65,150. CoinGlass data also showed roughly $556.5 million total liquidations in the past 24 hours, with BTC accounting for about $168.7 million of short liquidations.
Spot Bitcoin ETFs provided additional support: net inflows reached $85.9 million after five straight withdrawal days. Strategy further reinforced sentiment by buying 1,587 BTC (about $100 million), following an earlier sale that had raised concerns about institutional conviction.
Technicals improved. The daily MACD flipped bullish and Chaikin Money Flow recovered from deeply negative levels. On the 4-hour chart, BTC broke a descending trendline and pushed above the 61.8% Fibonacci level near $66,402, with nearby resistance cited around $68,640 and $70,880.
However, traders are watching the June 16–17 Federal Reserve meeting. Any signs inflation remains a concern could pressure risk assets. Analysts also noted $65,000 is the key line: a sustained drop below it could reopen the $63,200–$64,000 support zone.
Bullish
This is broadly bullish for BTC in the near term because multiple momentum drivers aligned at once: (1) the Hormuz shipping risk easing (Trump + tentative U.S.-Iran talks) lowered geopolitical risk and lifted broader risk appetite; (2) BTC’s spot ETF inflows returned (net +$85.9M), which tends to support price floors during rebounds; (3) derivatives show a classic short-squeeze/position unwind—$168.7M in BTC short liquidations—often accelerating upside through stop/cover flows; and (4) technical indicators improved (MACD bullish crossover, Chaikin Money Flow recovery, reclaiming the $65,150 pivot).
In the short term, BTC traders may push toward the cited resistance bands ($68.6K then $70.9K) as liquidation “magnets” near 67K–68K can attract price. In the longer term, confirmation will depend on whether macro conditions allow follow-through—especially the June 16–17 Fed meeting. Similar historical patterns: when geopolitical headlines ease and ETF demand reappears, BTC rebounds have often extended, but they can fail quickly if rates/inflation narratives re-tighten risk appetite or if BTC loses the reclaimed $65K level. Hence, the bullish bias remains, with $65K acting as the key invalidation level.