Bitcoin price recovered above $64,000 over the weekend after President Donald Trump paused U.S. strikes on Iran Friday night while diplomatic talks with Tehran continued. Trump ordered the military to halt strikes after 13 straight nights of American bombing, saying the U.S. remained "locked and loaded" but allowed backchannel diplomacy to proceed. The pause reduced immediate military escalation risk for crypto markets, though geopolitical pressure remained as spot Bitcoin ETFs recorded more than $465 million in net outflows across Thursday and Friday.
Trump Orders Military to Halt Iran Strikes Friday Night
Trump ordered the military to halt strikes Friday night while senior officials maintained contact with Iranian counterparts. Vice President JD Vance and Secretary of State Marco Rubio joined the diplomatic channel, with Trump saying Tehran was "getting more serious" about talks.
The president described two possible paths for the conflict, including a military exit or a negotiated deal. Earlier, he had warned of a "massive" infrastructure attack that could target Iranian bridges or power plants.
Tensions had widened after Iran-backed Houthi rebels attacked Saudi oil tankers in the Red Sea. Brent crude moved above $100, while Iran targeted U.S. and allied installations in Jordan, Bahrain, and Kuwait. Trump said the U.S. would seize billions in frozen Iranian assets to cover damage to commercial ships.
Spot Bitcoin ETFs Record $465 Million Outflows Thursday-Friday
Spot Bitcoin ETFs recorded more than $465 million in net outflows across Thursday and Friday. BlackRock's IBIT led the withdrawals, losing $212 million on Friday alone.
Those exits added selling pressure while Bitcoin struggled below the $65,000 to $67,000 resistance range. Institutional demand remained weaker during the pullback.
Regulatory uncertainty stayed in focus after Senate progress on the Digital Asset Market Clarity Act slowed. Bipartisan friction over crypto ethics rules for federal officials has reduced chances of passage before the summer recess.
CryptoQuant data showed stablecoin transfers to exchanges falling to multi-month lows. That decline signaled less immediately available capital for short-term buying and softer retail activity.
Bitcoin Options Put-Call Ratio Falls to 0.52 from Late June 0.76
Glassnode said Bitcoin options were turning less defensive as put-call ratios and short-dated skew declined. The options open interest put-call ratio fell to about 0.52 from 0.76 in late June.
Call open interest gained share relative to puts, which signaled reduced demand for downside protection. One-week at-the-money implied volatility stood at 34.3%, while six-month volatility reached 40.8%.
The upward-sloping volatility curve suggested lower near-term event risk, while longer-dated uncertainty still carried a premium. Front-end 25-delta skew dropped near 4%, while three-month to six-month skew held around 11% to 12%.
Glassnode said near-term downside hedging was unwinding, though longer-term options still retained a defensive premium. That positioning matched Bitcoin's stabilization near the mid-$60,000 range.
Bitcoin Support Holds Between $63,800 and $64,000
Bitcoin's immediate support sits between $63,800 and $64,000, which remains the nearest downside floor. A daily close below that range could expose $62,000 and $60,000 support.
Resistance remains concentrated between $65,000 and $67,000 after repeated rejection near the point of control. Bulls need a confirmed daily close above $67,000 to shift focus toward $71,000.
The short-term holder realized price sits near $68,000, where recent buyers approach breakeven. Selling can begin before that level as holders try to exit closer to cost basis.
FAQ
What did Donald Trump do on Friday night regarding Iran strikes?
Trump ordered the military to halt strikes on Iran Friday night while senior officials maintained contact with Iranian counterparts. Vice President JD Vance and Secretary of State Marco Rubio joined the diplomatic channel, with Trump saying Tehran was "getting more serious" about talks.
How much did spot Bitcoin ETFs lose Thursday and Friday?
Spot Bitcoin ETFs recorded more than $465 million in net outflows across Thursday and Friday. BlackRock's IBIT led the withdrawals, losing $212 million on Friday alone.
What is Bitcoin's current support and resistance range?
Bitcoin's immediate support sits between $63,800 and $64,000. Resistance remains concentrated between $65,000 and $67,000 after repeated rejection near the point of control.
