Bitcoin Nears $65K as Iran Deal News Keeps BTC Above $64K

Bitcoin hovered around $64,000 into Sunday’s weekly close as a US–Iran peace deal appeared imminent, with prices earlier touching $64,750 on Bitstamp. US president Donald Trump wrote on Truth Social: "The Deal is scheduled to get signed tomorrow, and immediately after it is signed, the Hormuz Strait is OPEN TO ALL." Traders took the announcement as a sign that sell pressure might be easing.

SuperBro noted the 200-week simple moving average was holding as support and called short-term action "In a word, constructive." They dismissed a bearish breakdown pattern and pointed to a volume point of control above the current spot price, saying "$65K-$67K is a big test...

If we can rip through this zone then the bear case takes a massive hit." Other market watchers flagged rising open interest alongside falling funding rates. Cryptic Trades told followers "It's finally happening," arguing that a lack of bullish conviction — and bears increasing short positions — can set up durable bottoms and fuel aggressive short squeezes.

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