Bitcoin (BTC) hit $64,000 at Sunday’s weekly close as a U.S.-Iran peace deal seemed imminent.
Key points:
- Bitcoin remains higher as US President Donald Trump promises a peace deal with Iran on Sunday.
- The Strait of Hormuz, a key global oil route, will be “open to all,” he says.
- Bitcoin analysis indicates that no bearish chart patterns are vigorous as open interest indicates a sustained price rebound.
Iran Peace Agreement Maintains Bitcoin Market Rebound
Data from TradingView showed that price action stabilized after local highs of $64,750 on Bitstamp.
BTC/USD Hourly Chart. Source: Cointelegraph/TradingView
They accompanied US President Donald Trump’s announcement that a peace agreement would be signed on Sunday.
“The signing of the agreement is scheduled for tomorrow, and immediately after signing, the Strait of Hormuz will be OPEN FOR ALL,” he added. he wrote in a post on Truth Social.
Source: Truth Social
There is renewed hope among traders that the selling pressure on Bitcoin will ease as a result. Trader SuperBro noticed that the 200-week straightforward moving average (SMA) is holding as support.
“In one word, constructive” – they summed up the BTC price action in low time frames in: write to X.
SuperBro dismissed concerns about a bearish split pattern, instead focusing on the point of control (nPOC) level on the exchange’s order books above the current spot price.
“$65-67 thousand is a big test at the recent low and POC volume. If we manage to break through this zone, the bear case will deliver a powerful blow,” they concluded.
BTC/USD 1-day chart. Source: SuperBro/X
Cointelegraph reported earlier on concerns about the 200-week SMA, which history has shown is “unreliable” as a hedge against a bear market.
Key BTC Price Setup ‘Finally Happening’
Continuing, the Cryptic Trades trading account has noticed a key combination of rising open interest and falling funding rates on exchanges.
Related: Bitcoin miners ‘capulation’ comes as trader sees bottom in 2026 bear market
“It’s finally happening” is it he said X followers on what could support more sustainable BTC price strength.
Cryptic Trades suggested that current conditions show a lack of faith among bulls, eliminating the risk of modern long positions being trapped before a renewed downturn.
“In other words, these are not longs aggressively chasing a move. These are bears doubling down, increasing their short positions and betting that the downtrend is not over,” he explains.
“This is exactly the type of setup that tends to mark lasting bottoms. The market begins to move higher, sentiment remains overwhelmingly bearish, and most continue to trend down. This is how aggressive short squeezes are born.”
BTC liquidation heat map. Source: CoinGlass
Data from CoinGlass showed that local highs coincided with a gigantic band of potential miniature liquidations.
