Bitcoin climbed above $64,000 on Saturday, marking an 8% recovery from recent lows as increased ETF inflows and potential geopolitical stability in the Middle East boost investor sentiment.
Key Points
- Bitcoin reached an intraday high of over $64,200, putting the cryptocurrency on track to end a four-week losing streak.
- U.S. spot Bitcoin ETFs recorded $85.9 million in net inflows on Friday, the highest daily total since May 14.
- Pakistan’s Prime Minister announced that a regional peace agreement is nearing finalization, potentially reducing geopolitical tensions.
- Analysts suggest that the conclusion of the SpaceX initial public offering may alleviate recent selling pressure from investors liquidating crypto positions.