Crypto
Home›Crypto›Bitcoin›Bitcoin rises to $65,000 as S&P 500 rebounds amid Horm…
Bitcoin rises to $65,000 as S&P 500 rebounds amid Hormuz claims
BTC/USD moved back above $65,000 while the 30-year US Treasury yield climbed to 5.34%.
Bitcoin (BTC) climbed to about $65,000 after the Wall Street open as the S&P 500 rebounded from its lowest level since Aug. 4. Cointelegraph reported that the move came alongside renewed crypto volatility, with BTC/USD building on the week’s gains.
The rally was linked to fresh US and Iran claims involving the Strait of Hormuz. Cointelegraph said Trump wrote that the strait was “open and operating,” while also stating that further diplomacy with Iran was not on the agenda.
Cointelegraph also noted pressure in traditional markets, saying the 30-year US government bond yield reached 5.34%, the highest since January 2007. The outlet cited a BNY Mellon analyst view that bond prices reflect compensation for inflation risk.
On the technical side, Cointelegraph cited trader Aksel Kibar’s levels, including a potential reverse head-and-shoulders pattern with $62,300 as a reference point, a $53,000 downside target if the setup fails, and $76,000 as a possible upside target. The outlet added that the 50-month exponential moving average is currently acting as resistance near $65,827.
Latest closeBitcoin $64,767.93 ▲0.4%|S&P 500 7,785.76 ▼0.2%