Bitcoin rebounded after the Wall Street open as US stocks turned higher on fresh optimism around Iran. The shift in risk sentiment helped BTC/USD reclaim the $63,000 area, while traders reported short liquidations nearing $100 million over the past 24 hours, according to CoinGlass data.
The market’s relief rally followed remarks from US President Donald Trump suggesting there may still be room for a new Iran “deal” after the ceasefire situation deteriorated. With crypto effectively tracking broader risk assets, traders are now focusing on whether BTC can hold key intraday levels into the daily close.
Key takeaways
- BTC/USD rose back above $63,000, gaining nearly 1.5% on the day, per TradingView.
- CoinGlass shows short liquidations approaching $100 million over 24 hours, reflecting heavy leverage unwinds.
- Several traders are watching whether BTC can secure a daily close above $64,700 to sustain the rebound.
- Market participants continue to disagree on whether a bear-market bottom is forming, with competing cycle interpretations.
Risk appetite returns as Iran “deal” hopes resurface
According to TradingView, BTC/USD moved higher after Thursday’s Wall Street open, climbing back above $63,000. The move came as US equities rebounded across the board, helping to partially offset the downside seen earlier in the week.
That timing aligned with comments from Trump, who indicated that Iran “wants to make a deal” after the ceasefire breakdown. As reported via posts quoting trading resource The Kobeissi Letter and others, Trump said that calls had been made and that the sides “want to make a deal so badly.” Earlier coverage from Cointelegraph also linked the broader market mood to developments around the Iran ceasefire and regional tensions.
In crypto, the improved sentiment appears to have been immediate: CoinGlass data cited by the market coverage showed short liquidations running close to $100 million in the last 24 hours. For traders, that kind of flush can reduce immediate downside pressure while also encouraging fresh momentum trades—though it doesn’t automatically confirm a sustained trend reversal.
Liquidations highlight leverage stress—and quick sentiment reversals
Short liquidations are often a sign that price moves are accelerating due to leveraged positioning. CoinGlass data referenced in the reporting showed liquidity targets being hit fast enough to push near-$100 million in liquidations over a day, consistent with the broader “risk-on” bounce in stocks.
While such spikes can fuel further upside in the short term, they also tend to make markets more reactive to headlines. That matters now because the drivers cited here—geopolitical developments and policy signals—can change quickly, and crypto has been trading as a high-beta asset relative to traditional markets.
Traders taking part in the price discussion suggested the rebound does not necessarily indicate an immediate trend shift. One market participant, writing on X under the handle Killa, said the setup was “not bearish at all,” adding that he expects “a few more months of choppy PA.” In that view, BTC could still fluctuate within a broader band rather than transition cleanly into a new directional phase.
Traders narrow focus to BTC’s key daily close
As price action stabilized after the bounce, attention turned toward specific technical levels. Trader Killa highlighted $68,000 as a potential area for a short entry, consistent with the idea that rallies may encounter selling pressure before any larger breakout.
Another participant, Jelle (CryptoJelleNL), also emphasized that bulls may still be trying to reclaim key ground. In an X update, Jelle suggested that if BTC can move back above a level of importance, the market could push again toward the $65,000–$70,000 area. But if BTC rejects and loses support, Jelle indicated that the market could revisit levels below $60,000.
The most concrete “decision point” referenced in the reporting came from Daan Crypto Trades, who argued that a daily close above $64,700 would “flip the story” toward a larger relief rally. Daan’s X analysis placed BTC in a $61.3K–$64.7K range and described the latest move as a climb back after a prior risk-off flush. In that same framework, a daily close under $61.3K would open the door to retesting lows and potentially invalidate the rebound momentum.
Bear-market bottom debate continues despite the rebound
Even with the bounce above $63,000, participants are not aligned on what the move means for the larger cycle. The coverage pointed to ongoing divergence in views about whether the bear-market bottom is already in.
Earlier reporting referenced in the article highlighted two contrasting interpretations: one analysis described a “textbook” bottom formation as underway, while another cycle comparison argued for a deeper macro floor. In practice, this split matters because it changes how traders interpret near-term rallies—whether they’re seen as early confirmation of a bottom, or as relief moves inside a still-volatile consolidation.
That is why the market’s next few sessions may be less about whether BTC can rise, and more about whether it can hold above critical thresholds on a closing basis. Given the leverage effects seen in liquidations and the headline sensitivity tied to geopolitics, follow-through will likely be closely watched.
Heading into the next daily close, traders will likely treat levels such as $64,700 as a litmus test for whether this rebound is merely another range extension or the start of a broader relief phase—especially as opinions on a longer-term bottom continue to differ.
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