Bitcoin hits $64,522 despite geopolitical tensions, but analysts question the sustainability of recent gains amid heavy sell pressure.
Bitcoin surged to $64,522 on Bitstamp before paring gains, trading 0.5% lower as traders flagged concerns over its rally. The move defied escalating US-Iran tensions, including the closure of the Strait of Hormuz and threats of renewed conflict.
The cryptocurrency brushed off geopolitical risks, with one trader labeling the price action “suspicious.” Analysts see $66,000 as a potential resistance level, while Binance faced sustained sell-side pressure. BTC’s resilience contrasts with broader market caution ahead of US futures trading.
Despite the rally, skepticism persists over whether the gains can hold amid macroeconomic uncertainty and persistent selling activity.