Bitcoin (BTC) returned to $64,000 on Sunday amid concerns about BTC’s incredible price strength.

Key Points:

• Bitcoin eases tensions between the US and Iran despite the closure of the Strait of Hormuz.
• As a result, the trader calls BTC price behavior “suspicious” while targets see maximum growth reaching $66,000.
• Binance selling pressure remains significant.

BTC price ignores fresh Hormuz shutdown and threat of strike in Iran

Data from TradingView showed BTC/USD hitting local highs of $64,522 on Bitstamp before retreating and trading down 0.5% on the day.

BTC/USD Hourly Chart. Source: Cointelegraph/TradingView

Both countries maintained most of their gains despite fresh instability during the US-Iran war, when Tehran once again closed the Strait of Hormuz oil route and placed current peace agreement doubts.

Israeli attacks on Lebanon have been at the center of the conflict, and Iran has warned that last week’s ceasefire could be completely broken as a result. US President Donald Trump responded with defiant rhetoric.

“Iran must immediately stop its highly paid proxies in Lebanon from causing problems,” he wrote in a post on the site Social truththreatening “stronger” strikes against Iran.

Source: Truth Social

In the hours before U.S. futures markets opened, cryptocurrency investors were unsurprisingly cautious.

“$BTC is rising amid rising geopolitical tensions, which is very suspicious,” trader Lennaert Snyder commented on X

Nevertheless, Snyder saw a potential move to $66,000 within the current rally, predicting an “interesting week” for Bitcoin.

Meanwhile, fellow trader Killa warned that history favors the week’s highs coming sooner rather than later.

“Monday hasn’t been kind to $BTC lately,” they say he said X followers

“Over the last six weeks, 6 out of 6 Mondays marked a local high before the price dropped.”

BTC/USD chart with Monday’s highs marked. Source: Killa/X

Binance spot market sellers keep the pressure on

An analysis of the exchange’s order books raised further doubts.

Related: Bitcoin reached a “macro low” in the third quarter near 50,000. dollars due to the upcoming grave decline in liquidity

Commenter Exitpump said that the tiny interest in Binance means that derivatives markets are behind the recent price augment.

“Even though the price is slowly rising, the Binance spot is still selling in this movement. Mainly motivated by perpetrators, they are going up,” they say he wrote on Saturday.

BTC/USD 10-minute chart with order book data (Binance). Source: Exitpump/X

Before, – Cointelegraph reported to continued “aggressive” selling pressure from Binance keeping the bulls in check.