Bitcoin climbed above $64,000 on Saturday, hitting an intraday high of more than $64,200. The largest cryptocurrency by market capitalization is up more than 1% over the past 24 hours and is now up over 8% from its June low of just over $59,000.
The sentiment has also been supported by further positive developments on the geopolitical front in the Middle East.
Pakistan’s Prime Minister stated on X: “We are closer to a peace agreement than ever before. With completion likely within the next 24 hours, Pakistan is preparing for electronic signing of the agreement immediately thereafter, followed by technical-level negotiations next week.”
Meanwhile, Friday saw the biggest daily inflows into US spot Bitcoin ETFs since May, with net inflows totaling $85.9 million. The last time the inflow exceeded this level was on 14 May.
On Friday, a Standard Chartered analyst said ETF holders have anecdotally liquidated their positions to free up cash to participate in SpaceX’s IPO. After SpaceX’s IPO on Friday, that may finally ease the selling pressure, the analyst added.
