Bitcoin has surged past the $64,000 mark, continuing its recovery from a recent slump as a combination of improving investor sentiment, substantial inflows into spot ETFs, and growing optimism regarding a potential peace agreement between the U.S. and Iran has sparked renewed demand for the cryptocurrency. As of 04:56 ET (08:56 GMT), Bitcoin was trading at $64,475.5, reflecting a more than 1% increase over the past 24 hours. This marks an over 8% recovery from a low in June, where the cryptocurrency dipped near $59,000.
The upswing in investor confidence was notably bolstered by remarks from Pakistani Prime Minister Shehbaz Sharif, who suggested that a deal between Washington and Tehran is imminent, potentially finalizing within days. This announcement has played a role in improving overall market sentiment.
Moreover, fund flows into cryptocurrencies have shown signs of stabilization after experiencing weeks of notable outflows. On Friday, U.S. spot Bitcoin ETFs recorded net inflows of $85.9 million, representing the strongest daily influx since mid-May. The resurgence of positive investment flows suggests that institutional demand may be rebounding from a recent period characterized by heavy selling.
Some analysts had previously linked recent ETF outflows to investors liquidating positions to participate in SpaceX’s groundbreaking initial public offering (IPO). With SpaceX now publicly traded, the temporary selling pressure associated with this development may be easing. Notably, the aerospace company has captured attention in the cryptocurrency realm by revealing in its IPO filing that it held 18,712 Bitcoin as of the end of the first quarter, valued at approximately $1.29 billion. This substantial position positions SpaceX among the largest corporate Bitcoin holders in the public market.
In contrast to firms that have business models centered around cryptocurrency accumulation, SpaceX regards Bitcoin as a strategic treasury reserve, intended to complement its corporate cash. Investors are likely to keep a close watch on how the company manages its Bitcoin holdings in future earnings cycles.
Additionally, as cryptocurrency markets evolve, there is growing interest in advancements in artificial intelligence (AI). The recent unveiling of the Fable 5 AI model by Anthropic has sparked discussions about the potential benefits of AI tools in enhancing software development and security. However, there are also concerns that increasingly sophisticated AI systems may heighten cyber threats that target cryptocurrency platforms.
Despite the positive momentum, Bitcoin still trails significantly behind its peak of nearly $126,000 achieved in late 2025. Market participants are now keenly observing whether the demand for ETFs continues to fortify and if the de-escalation of geopolitical tensions can further support Bitcoin’s market recovery in the upcoming weeks.
