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Bitcoin pushes toward $66,000 as Iran-strike pause lifts risk assets
BTC traded near $66,000 at the US open, with the move coinciding with a roughly 0.3% rise in the S&P 500 and Nasdaq Composite.
Bitcoin climbed toward $66,000 at the start of the US session, tracking gains in US equities as markets took relief from a pause in US-Iran strikes, Cointelegraph reports.
The article says the backdrop also included reports that Iran and Oman were trying to establish mechanisms regarding maritime traffic through the Strait of Hormuz, a key global oil route described as closed at the time. In parallel, US WTI crude fell toward $82 per barrel before a modest rebound.
Cointelegraph also notes that QCP Capital suggested potential tailwinds for crypto, pointing to the way digital assets have outperformed equities in July even with a more challenging macro environment. The firm highlighted continued attention on the proposed CLARITY Act, which remains under consideration and could affect the US regulatory framework for digital assets.
Among traders, Cointelegraph cites analysis indicating BTC was holding its 21-day and 50-day simple moving averages at about $64,289 and $63,261, respectively, which it characterized as support on shorter time frames. The article adds that CoinGlass data showed crypto short liquidations rising as prices moved higher.
Latest closeWTI crude $90.47 ▼1.9%|Bitcoin $64,670.78 ▼1.0%