Bitcoin don knack back to $64K as hope for peace between US and Iran dey waka up and down
Bitcoin (BTC) finish one wahala week by recovery after big sell wey push di price under $60,000 for di first time since late 2024. BTC slide from above $73,000, loss key support levels, den bounce back—first reclaim $60,000, den reach $62,000–$63,000 on Sunday.
Di next push come from renewed hope say US–Iran fit make peace deal, so BTC quick spike to about $64,000. But momentum change when Israel attack Lebanon and Iran respond, and Trump talk say Iran bring down one US helicopter. Later, Trump cancel the planned US retaliation, wey coincide with quick BTC jump of about $1,500 within minutes and talk say dem fit announce deal soon.
But early today, Trump later dispute the “war-ending deal” terms wey dey circulate for Iranian state media, say dem get “NOTHING to do” with the written agreement and call Iranian officials “dishonorable,” so geopolitical risk remain high.
Outside geopolitics, SpaceX IPO (SPCX) oversubscribed and break record for biggest IPO by share sales, with expected Wall Street open price of $135. This support market sentiment too, though BTC still dey sensitive to headlines. As of writing, BTC trade near $64,000 (+~$5,000 from the prior multi-year low).
Altcoins do better: ZEC up about 30% and XMR gain around 19%. For broader context BTC dominance around 56% while ETH and XRP also post weekly gains.
Neutral
Dis week news mix for Bitcoin. For di bullish side, BTC recover follow clear de-escalation headline: Trump cancel di scheduled US retaliation, an BTC quick jump (about +$1,500 within minutes). Dat pattern resemble di usual “risk-off/risk-on whipsaws” weh even short-lived easing fit trigger fast BTC buying an technical breakouts.
But di bullish impulse quick face challenge from renewed conflict headlines an conflicting comments about di US–Iran deal terms. Dis kind inconsistency dey keep volatility high an often delay sustained trend reversals. Traders likely go treat BTC around $60k–$65k as headline-sensitive range, dem go buy dips when de-escalation signals show an sell when di narrative turn again.
Di SpaceX IPO (SPCX) be sentiment booster for di broader tech/risk complex, but e no go likely override geopolitics-driven BTC flows for short term. Net effect: neutral-to-range trading conditions, with short-term upside spikes possible on de-escalation an downside risk still dey if escalation headlines return.