Bitcoin pushes above $64,000 as traders focus on $65,000 test

Bitcoin climbed back above $64,000 on Friday, bringing the largest cryptocurrency within roughly $400 of a three-week high, according to Cointelegraph data from TradingView. For everyday crypto investors, the next visible marker is $65,000, a level analysts say could decide whether the current rebound broadens into altcoins.

BTC/USD reached about $64,350, Cointelegraph reported, while its market tracker showed Bitcoin recently at $64,214.17, up 0.61%. Ether was listed at $1,834.91, up 2.72%, while Solana traded at $77.97, up 2.10%.

The move came as several macro signals pointed in different directions. U.S. WTI crude oil stayed under pressure after pulling back from $76 a barrel, according to Cointelegraph’s TradingView chart. The U.S. dollar index, known as DXY and used to measure the dollar against a basket of major currencies, fell for a third straight day and approached its lowest levels since mid-June.

Oil, the dollar and crypto are sending mixed signals

Lower oil prices can ease inflation worries because energy costs feed into transportation, manufacturing and consumer prices. A softer dollar can also help risk assets because many global investors price assets in dollars, making crypto and stocks more attractive on the margin when the currency weakens.

The backdrop remains tied to hopes that a U.S.-Iran peace deal can be preserved, Cointelegraph reported. Trading firm QCP Capital said the broader economic risk picture was still worsening, pointing to stresses in energy markets and the U.S. Strategic Petroleum Reserve, or SPR, the government’s emergency oil stockpile.

“With no monetary cushion coming, the physical buffers matter more,” QCP Capital wrote in a note about recent Iran-related developments. The firm said Doha talks ended without a shipping deal, missiles hit two tankers on July 7 and flows through the Strait of Hormuz remained well below normal.

QCP also said the SPR stood at 319.5 million barrels, its lowest level since 1983, leaving 19.5 million barrels before what the firm called the 300 million-barrel “stress zone.” The firm added that recent Bitcoin sales by business intelligence company Strategy showed that instability had reached crypto markets as well.

Traders watch inflation odds and the $65,000 level

The Kobeissi Letter pointed to a calmer inflation outlook, citing Polymarket data that put the odds of U.S. inflation rising above 4.5% in 2026 below 20%. In a post on X, Kobeissi said those odds had been 85% seven weeks earlier and that inflation expectations were declining again.

Crypto trader and analyst Michaël van de Poppe also highlighted falling oil prices as one reason markets could have more upside. In an X post Thursday, he cited lower Brent oil, a Nasdaq that he said looked positioned for a new all-time high, and Bitcoin appearing ready to move above $65,000.

On Friday, van de Poppe told followers that markets were looking “better day after day” and said Bitcoin was attacking “the crucial resistance of $65,000 again.” Resistance is a price zone where selling has previously been strong enough to slow or stop a rally. Van de Poppe said a break above that level could turn many altcoin downtrends into uptrends.

For now, the market setup is straightforward: Bitcoin has recovered to the mid-$64,000s, oil has eased, the dollar index has slipped, and traders are treating $65,000 as the line to watch.

This story draws on original reporting from Cointelegraph.