Bitcoin price was trading at $65,371 after rising 7% in the past 24 hours. The move came as buyers returned days after the cryptocurrency market consolidated.
Bitcoin price rose more than $65,000 in response to better geopolitical mood. The market was earlier stuck in a narrow range between $65,500 and $65,750. Bitcoin rose to just over $66,000, but momentum slowed again.
Bitcoin price is recovering as hopes for a deal between the US and Iran grow
Bitcoin price rebounded as investors monitor developments around the expected US-Iranian memorandum. Senior US officials reportedly outlined the 14-point agreement during a phone call with reporters on Wednesday.
The memorandum is expected to be officially signed in Switzerland on Friday. It includes conditions for reopening Strait of Hormuz. It also calls for an immediate cessation of hostilities on several fronts, including Lebanon.
BREAKING: The United States has published the full text of the 14-point “memorandum of understanding” with Iran.
Key terms include:
1. The United States, Iran, and their allies agree to immediately and permanently end military operations on all fronts, including in Lebanon.
2. The United States and Iran agree…
– Al Qubaisi Letter (@KobeissiLetter) June 17, 2026
The agreement may also open the next phase of negotiations. Future talks are expected to focus on more difficult issues, including Iran’s nuclear program.
Bitcoin was already recovering from its June lows of around $59,000. This price is set to reach approximately $67,200 as the market becomes more confident of peace.
However, BTC lost some momentum after the rally stalled near resistance. The Fed’s interest rate decision also kept traders cautious.
in First meeting with Kevin Warsh As the new president, the Fed did not change interest rates. Economists had expected rates between 3.50 and 3.75.
For now, Bitcoin’s recovery appears to be linked to easing war fears and stabilizing monetary policy. A bullish break above $66,000 could help push another towards $67,200. A loss of $65,000 could lead to new consolidations.
Bitcoin’s gain percentage indicates a fragile recovery
BTC’s P/S ratio remains weak, even as the price rebounds from the $60,000 area. Glassnode’s 30-day RPLR has dropped sharply, showing that new sellers are making less profits.
The 90-day average is also close to the neutral line, proving the strength of the market cooling. This structure is common when rallies fail to find confident, profit-driven demand. The recovery remains weak, although Bitcoin is bouncing around the $65,000 price point.
A long-term move above $70,000 could enhance the profit momentum achieved. But a second failure at or near resistance could prompt traders to be cautious again. Statistics indicate attempts at accumulation and not a reversal of the trend confirmed so far.
Bitcoin ETFs See $10.06 Million Inflows with IBIT Adding to $16.35 Million
According to Sosovalue data, US Bitcoin ETFs recorded $10.06 million in daily net inflows on June 16. BlackRock, with IBIT, took first place at $16.35 million, and Fidelity FBTC at 4.28 million.
Grayscale’s GBTC saw outflows of $16.81 million, partially offsetting gains from other funds. IBIT also remained the largest producer, with net assets of $50.28 billion. The mixed flow pattern indicates initial demand as investors switch between major ETF products today.
Will Bitcoin price surpass $68,000 and target $70,000 next?
As of the report, BTC price trading At $65,364 on the four-hour chart. Bitcoin remained under pressure as it lost momentum around the $68,000 resistance area.
The RSI was close to 51, showing cold momentum. The MACD also deteriorated and this indicates that the bulls need more volume in the near future.
The chart indicated that Bitcoin fell below an upward channel, continuing the recent rally. Such a move undermined the short-term structure and brought the support at $65,000 back into play.
A strong hold above $65,000 would help buyers attack $68,000 again. the Bitcoin long term prediction It could reach the next important resistance level at $70,000 if volume improves.
However, a four-hour close below $65,000 could expose the $62,500 level. The $60,000 area could be on the horizon next due to deeper weakness.
