Bitcoin climbed back above $65,000 on Wednesday, reclaiming the level for the first time since renewed U.S.–Iran hostilities knocked the price below $62,000 earlier in the week. The move caps a two-week recovery from a late-June low near $58,000, representing a gain of roughly 12% over that period.
The session high reached $65,005, marking a sharp reversal from the panic-driven selling that followed the escalation of geopolitical tensions. Easing geopolitical tensions—including diplomatic signals from President Trump regarding Iran—helped fuel the rebound, according to reports.
The return to $65,000 reflects a broad shift in market sentiment. As fears of a wider conflict receded, traders rotated back into risk assets, triggering short liquidations and boosting trading volumes. The move also underlines the growing correlation between cryptocurrencies and other risk-on instruments, such as equities.
Key Milestones in the Recovery
- Session high: $65,005 during Wednesday’s trading.
- Post-selloff trough: Below $62,000 after U.S.–Iran hostilities flared earlier in the week.
- Late-June low: Near $58,000, marking the start of the two-week recovery.