Bitcoin Price Climbs Above $64,000 as ETF Inflows Strengthen and Iran Peace Deal Hopes Grow

Bitcoin moved above $64,000 over the weekend, continuing its recovery after falling to just above $59,000 earlier in June. BTC reached an intraday high above $64,200 and later back to 63k on subday morning and has gained more than 8% from its monthly low .

The latest advance has helped Bitcoin recover a significant portion of its recent losses and puts the asset on track to end a four-week losing streak. At the time of the move, Bitcoin was up more than 1% over the previous 24 hours and around 1% for the week.

Iran Peace Deal Optimism Boosts Market Sentiment

Investor sentiment improved after comments from Pakistan Prime Minister Shehbaz Sharif, who said a peace agreement between the United States and Iran could be finalized within the next 24 hours. He added that Pakistan was preparing for the electronic signing of the agreement, with technical-level discussions expected to follow next week.

Markets have closely watched developments surrounding the proposed deal, as a reduction in geopolitical tensions could improve risk appetite across global financial markets, including cryptocurrencies.

Strait of Hormuz Remains Key Focus

A potential agreement could lead to the reopening of the Strait of Hormuz, a critical trade route responsible for a large share of global oil and liquefied natural gas shipments. Easing concerns over energy supplies has helped support broader market confidence.

Spot Bitcoin ETF Inflows Reach Monthly High

Bitcoin also received support from strong institutional demand. U.S. spot Bitcoin ETFs recorded net inflows of $85.9 million on Friday, marking the largest single day inflow since May 14 and ending a recent period of sustained outflows.

Market observers also noted that some investors had reportedly sold ETF holdings in recent weeks to raise cash for participation in the highly anticipated SpaceX initial public offering. With the IPO now completed, analysts believe part of that selling pressure may fade, potentially providing additional support for Bitcoin in the weeks ahead.