Bitcoin Needs a Daily Close Above $64,700 to Seal Its Latest Rebound, Says Trader
Bitcoin (BTC) saw intraday highs after Thursday’s Wall Street open as US stocks rebounded on fresh Iran peace hopes.
Key points:
Bitcoin joins a risk-asset rebound as US President Donald Trump said that Iran “wants to make a deal” after the ceasefire breakdown.Crypto short liquidations near $100 million over 24 hours.Traders see important BTC price levels coming as soon as the daily close.
Crypto, stocks rise as Trump teases new Iran “deal”
Data from TradingView showed BTC/USD rising back above $63,000, up by nearly 1.5% on the day.
BTC/USD one-hour chart. Source: Cointelegraph/TradingView
US stocks were in the green across the board, helping to erase Wednesday’s downside as US President Donald Trump said that the Iran peace deal was “over.”
“They called a little while ago; they want to make a deal so badly,” Trump subsequently said in comments quoted by trading resource The Kobeissi Letter and others.
Crypto markets joined the sense of relief, helping push 24-hour short liquidations to nearly $100 million, per data from CoinGlass.
BTC/USD vs. crypto liquidations (screenshot). Source: CoinGlass
Commenting on the latest BTC price setup, trader Killa described their view as “not bearish at all.”
“In my view, we still have a few more months of choppy PA,” an X post stated, eyeing $68,000 for a potential short entry.
Source: Killa/X
Fellow trader Jelle saw ongoing strength from bulls, with a support reclaim still possible.
“Looks like bulls aren’t giving up on the reclaim just yet,” he told X followers.
“Get back above, and we likely push for 65-70k again. Reject, and sub-60k is back on the menu for $BTC.”
BTC/USD 12-hour chart. Source: Jelle/X
Bitcoin price needs a $64,700 daily close
Continuing, trader Daan Crypto Trades emphasized $64,700 for the daily close.
Related: Bitcoin ETFs end ‘most overwhelming’ $2.7B sell-off amid new $85M net outflow
“$BTC is ranging $61.3K-$64.7K range and spent this morning climbing back up after yesterday’s risk-off flush,” his latest X analysis read.
“A daily close above $64.7K flips the story and would make for a larger relief rally across the board. A close under $61.3K opens the road to the lows again and kills the momentum.”
BTC/USD one-hour chart. Source: Daan Crypto Trades/X
As Cointelegraph reported, opinions on the bear-market bottom being in continue to diverge.
This week, analysis described a “textbook” bottom formation now underway, while BTC price-cycle comparisons continued to demand a deeper macro floor.
