Bitcoin rose after oil prices cooled and President Trump told reporters aboard Air Force One that Iran called wanting to negotiate a deal.
- Bitcoin climbed toward $63,000 after oil prices eased following President Donald Trump’s statement that Iran wants to "make a deal so badly."
- Analysts said Bitcoin could continue higher if it holds above $61,000, though resistance near $65,000 remains a key hurdle.
- Retail traders on Stocktwits remained divided on Bitcoin's near-term direction despite the recovery.
Bitcoin (BTC) attempted to climb back over $63,000 in early morning trade on Thursday after oil prices eased and President Donald Trump stated that Iran wants to make a deal.
"They called a little while ago. They want to make a deal so badly,” Trump told reporters aboard Air Force One before taking off from the U.K. “I just don't know if they're worthy of making a deal. I don't know if they're going to honor the deal. That's the problem."
The United States Oil Fund (USO) edged 0.85% lower in pre-market trade and was among the top trending tickers on Stocktwits at the time of writing. Retail sentiment on the platform around the ETF continued to trend in ‘bullish’ territory over the past day, while chatter climbed to ‘high’ from ‘normal’ levels.
Meanwhile, Bitcoin’s price rose over 1.4% in the last 24 hours to around $62,900. It also saw retail sentiment trending in the ‘bullish’ zone over the past day, accompanied by chatter at ‘normal’ levels.
However, U.S. spot bitcoin ETFs lost a net $84 million on Wednesday, ending a three-day inflow run that had pulled in roughly $509 million, according to data on SoSoValue.
Analysts Watch $61K Support, $65K Resistance
According to crypto analyst and MN Fund founder Michael van de Poppe, Bitcoin is likely to move higher as long as it can hold above $61,000.
Analyst Ted Pillows forecast that it will likely trade sideways unless it can climb above $65,000.
Meanwhile, retail traders on Stocktwits were split between whether the apex cryptocurrency is poised to rise in the coming days or trend lower towards $50,000.
Altcoins, Crypto Stocks Move Higher With BTC Recovery
Solana (SOL), the leading loser among the top 10 cryptocurrencies on Wednesday, gained around 1% over the last 24 hours to hit $78. It was also the second-highest trending cryptocurrency on Stocktwits at the time of writing. However, retail sentiment around Solana dipped to ‘bearish’ from the ‘neutral’ zone over the past day.
Binance Coin (BNB) and Dogecoin (DOGE) outperformed Bitcoin, rising more than 2% in the last 24 hours. Meanwhile, Ripple’s XRP (XRP) gained 1.3%, and leading altcoin Ethereum (ETH) moved 1.1% higher.
The overall cryptocurrency market moved 1.5% higher to around $1.26 trillion. CoinGlass data showed around $175 million in liquidations over the past 24 hours, with a near-even split between long and short bets being forced to unwind.
The recovery in Bitcoin also lifted several crypto-linked equities in pre-market trading. Shares of Strategy (MSTR) and Strive (ASST), both corporate holders of BTC, moved higher. MSTR’s stock gained around 1.5%, while ASST’s stock rose 1.7%. Retail sentiment on Stocktwits around both Bitcoin treasuries trended in ‘bullish’ territory over the past day.
Coinbase (COIN), Circle (CRCL), and Robinhood (HOOD), were also in the green. COIN’s stock edged 0.7% higher in pre-market trade, while CRCL’s stock and HOOD’s stock moved 0.8% higher.
Read also: Oil Price Surge Tests Bitcoin’s Bottoming Process Amid Multi-Million Dollar Capital Flush
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