Bitcoin Climbs 4.4% to $64,687 as Geopolitical Tensions Ease

Bitcoin USD jumped 4.4% to $64,687 in 24 hours, gaining $2,722 as geopolitical pressure from US-Iran tensions eased and spot demand returned to markets. The rebound follows a sharp drop toward $62,000 earlier in the week when traders feared escalation over the Strait of Hormuz. Meyka’s technical data shows the move is supported by strong trend strength, though momentum remains mixed.

Why Bitcoin rebounded from $62,000 lows

Bitcoin fell sharply toward $62,000 as US-Iran tensions over the Strait of Hormuz sparked risk-off selling and massive short positioning. President Trump’s statement about US control of the strait eased immediate war fears, allowing spot buyers to re-enter. Oil prices stabilized near $75 per barrel, removing a key driver of Bitcoin weakness.

Technical setup shows strong trend but neutral momentum

The ADX reads 28.80, signaling a strong directional trend. Bitcoin trades at $64,687, above its 50-day average of $64,577 but well below the 200-day average of $73,742, indicating longer-term weakness. The RSI sits at 51.61, neutral territory, while the Stochastic %K at 84.49 suggests short-term overbought conditions. Price is within the Bollinger Bands (lower: $58,732, upper: $65,707), near the upper band.

Meyka forecasts Bitcoin at $70,378 in one month

Meyka’s one-month forecast stands at $70,377.52, representing an 8.8% gain from today’s price. The 12-month forecast reaches $100,171.72, a 54.9% increase. These targets assume continued recovery from geopolitical headwinds and a return to longer-term bullish structure. Forecasts may change due to market conditions, regulations, or unexpected events.

Volume and momentum divergence signals caution

Today’s volume of 29.7 billion sits 42% below the 30-day average of 51 billion, suggesting the rally lacks conviction. The MACD histogram at 740.02 is positive but the signal line at -1,734.92 remains deeply negative, indicating early-stage momentum recovery rather than sustained buying. The Money Flow Index at 66.83 shows moderate institutional interest.

Final Thoughts

Bitcoin’s 4.4% rebound to $64,687 reflects relief from geopolitical risk rather than fundamental strength. With the RSI neutral and volume below average, the move may face resistance at $65,700. Watch whether spot demand holds above $62,000 support to confirm the recovery.

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Disclaimer:

Cryptocurrency markets are highly volatile. This content is for informational purposes only. The Forecast Prediction Model is provided for informational purposes only and should not be considered financial advice. Meyka AI PTY LTD provides market data and sentiment analysis, not financial advice. Always do your own research and consider consulting a licensed financial advisor before making investment decisions.