Bitcoin Rises on Easing Tensions
Bitcoin moved above $66,600 on Monday after posting a 4% gain over the prior week. The advance followed reports that the United States and Iran had reached a preliminary peace agreement.
Improved risk sentiment across markets provided support for the cryptocurrency after several weeks of uncertainty. Officials from both countries indicated progress toward a diplomatic resolution, which reduced immediate concerns about wider regional conflict.
Iran's Supreme National Security Council stated that Tehran had finalized a Memorandum of Understanding calling for an immediate and permanent halt to military operations, including in Lebanon. On the US side, President Donald Trump announced the reopening of the Strait of Hormuz and the lifting of the naval blockade.
Pakistan Prime Minister Shehbaz Sharif noted that the agreement is expected to be signed in Switzerland on Friday. Iranian Deputy Foreign Minister Kazem Gharibabadi added that further talks during a proposed 60-day ceasefire would address sanctions relief and Iran's nuclear program.
Institutional Flows Remain Weak
Despite the improved macro backdrop, institutional participation has not recovered. US spot Bitcoin ETFs recorded net outflows of roughly $315.84 million in the latest week, marking the fifth consecutive week of withdrawals since mid-May.
Persistent selling from these vehicles suggests institutions remain cautious. Continued outflows could cap upside moves and raise the chance of renewed volatility if retail buying does not compensate.
Technical Picture Shows Mixed Signals
On the four-hour chart, Bitcoin has flipped bullish in the short term after recovering nearly 4% last week. The MACD has turned positive and the RSI has reached around 71, indicating building momentum.
Price is still trading below major moving averages and a previously broken ascending trendline, leaving the broader structure bearish. A sustained move above the 50-day EMA near $70,704 would be required to open the path toward the 100-day EMA at $73,412.
On the downside, initial support rests near $64,004. A break below that level could revive selling pressure and increase the risk of a deeper correction.
