Bitcoin rose above $64,000 on Saturday, marking an 8% gain from its June low near $59,000. Strong U.S. spot Bitcoin ETF inflows and optimism over a potential Iran peace deal supported the move. The cryptocurrency is on track to end a four-week losing streak.
Bitcoin reached an intraday high above $64,200 on Saturday, up more than 1% over the past 24 hours. U.S. spot Bitcoin ETFs saw $85.9 million in net inflows on Friday, the highest daily total since May 14.
Pakistan's prime minister stated on X that a peace agreement with Iran is closer than ever. Finalization is expected within 24 hours, with an electronic signing to follow and technical talks set for next week.
The recovery also followed the SpaceX initial public offering on Friday, which closed at $161 after a 19% gain. Analysts noted that reduced selling pressure from ETF holders may have aided the rebound.
