Bitcoin Rebounds Above $64K as Tech Rally Eases Geopolitical Jitters

Bitcoin climbed back above the $64,000 mark on Friday, trading at $63,900.8 as of 06:35 GMT — up 1.5% on the day and on track for a 2% weekly gain, according to Investing.com data.

Three factors are driving the rebound:

1. De-escalation signal: U.S. President Trump indicated Iran had reached out for renewed talks, easing concerns over a broader Middle East conflict that had prompted safe-haven flows earlier in the week.
2. Equity tailwind: The Nasdaq Composite gained more than 1% on Thursday, with tech-led momentum spilling into crypto markets. Bitcoin continues to trade as a high-beta risk asset that has shown a close correlation with broader equity sentiment.
3. ETF demand: Spot Bitcoin ETFs, a key institutional access channel since their approval in January 2024, continue to provide support during periods of macroeconomic uncertainty, according to market observers.

Major altcoins also advanced. Ethereum rose 1.1% to $1,773.92, XRP gained 0.6% to $1.105, while Solana and Dogecoin each added around 0.6% and 1.4%, respectively. Cardano underperformed the broader market, falling 2%.

Market focus: The $64,000 level remains a key near-term resistance for Bitcoin. A sustained move above this level may support further upside momentum, while renewed tensions between the United States and Iran remain one of the key risks that could influence market sentiment. Given the cryptocurrency market's sensitivity to geopolitical developments, traders may wish to monitor volatility and manage risk accordingly.

Sources: Investing.com, Reuters