Bitcoin Breaks Above $65,000 to Hit Weekly High
Bitcoin is a key price benchmark for the crypto asset market, with its movements often influenced by U.S. dollar liquidity, risk appetite and geopolitics. Uncertainty over prospects for a U.S.-Iran peace agreement initially weighed on U.S. stocks. The U.S. government later allowed Iranian oil transactions for two months, prompting expectations of higher supply that drove oil prices lower and shifted market assessments of inflation and liquidity conditions.
Cointelegraph reported on June 22, 2026, that BTC/USD rose above $65,000 after U.S. stocks opened on Monday. It reached $65,555 on Bitstamp, its highest level since June 17. U.S. West Texas Intermediate crude fell to about $73 a barrel over the same period, closing in on its early-March low. CoinGlass data showed Bitcoin liquidations totaled $2.5 billion over seven days.
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The history behind this eventBitcoin Breaks $65,500 as Cooler US Inflation Lifts Risk Appetite
An unexpected cooling in the US producer price index for June strengthened expectations that inflationary pressure was easing and the Federal Reserve could move toward looser monetary policy. The data from the Bureau of Labor Statistics improved sentiment toward risk assets, helping Bitcoin rebound as investors reassessed the outlook for interest rates and market liquidity.
Bitcoin initially climbed above $65,500, its highest level in nearly three weeks, before extending the advance to about $66,300 and approaching a one-month high. The move marked a fresh attempt to break out of its recent trading range, though some investor groups sold into the rally. Traders remained cautious about whether Bitcoin could hold above the key threshold and sustain further gains.
Bitcoin Touches $62,000, Reaching Nine-Day High
Bitcoin rebounded alongside a broader rally in global risk assets. The Dow Jones Industrial Average and the total market capitalization of global equities reached record highs, lifting risk appetite. The crypto market continued to absorb earlier selling pressure, while steady buying on exchanges provided important support for Bitcoin’s price.
Bitcoin rose as high as $62,295 intraday on July 3, its highest level in nine days and since June 24. The rally signaled renewed buyer momentum, but the price was approaching a key resistance zone formed by the 200-week moving average. Without a decisive breakout, Bitcoin could continue trading around $62,000 in the near term.
Bitcoin Breaks Above $76,000 as Iran Tensions Ease and Oil Prices Plunge
Bitcoin and global risk assets had recently come under pressure from the conflict involving Iran and concerns over shipping through the Strait of Hormuz. The strait is a vital artery for global crude oil shipments, and the risk of a blockade could drive up oil prices and inflation expectations. As tensions involving Iran eased, capital flowed back into crypto assets and technology stocks, making $76,000 a key dividing line between bullish and bearish sentiment.
After Iran announced the Strait of Hormuz would be fully open during the ceasefire, crude oil prices plunged. Bitcoin first reclaimed $75,000, then broke above $76,000 and briefly reached $78,000, while MicroStrategy shares (MSTR) jumped 12%. Around April 17, Bitcoin quietly set a new 10-week high as futures trading volume and open interest rose significantly. The market is testing resistance at $78,000, while traders are watching whether Bitcoin could reach $88,000 within weeks.
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