Bitcoin tags $65K as S&P 500 rebounds from 2-week lows on US-Iran rhetoric
Bitcoin reached $65,000 as the S&P 500 rebounded from two-week lows, despite diverging from US stocks amid escalating US-Iran tensions. Trump said the Strait of Hormuz was “open and operating” and ruled out further talks with Iran, while tensions over control of the key oil route remained high.
Oil avoided major volatility, with WTI down 1% at around $84 per barrel. Meanwhile, the 30-year US Treasury yield climbed to 5.34%, its highest since January 2007, as investors demanded greater compensation for inflation risk and rising government borrowing.
BTC price faces crunch rebound test
Trader Aksel Kibar identified $62,300 as a key level for a potential reverse head-and-shoulders pattern. He argued Bitcoin needs to rebound from this area, with $53,000 as a downside target if the setup fails and $76,000 as a potential upside target if momentum holds.
Bitcoin’s rebound to $64,500 has remained below the 50-month EMA, now acting as resistance at $65,827, highlighting the challenge bulls face in sustaining a move higher.
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