Bitcoin tops $63,000 as traders watch $64,700 close

Bitcoin climbed back above $63,000 Thursday, giving crypto traders a fresh test after geopolitical headlines pushed markets around. For everyday investors, the move shows how quickly Bitcoin can trade like a risk asset when stocks rebound and fear in global markets eases.

TradingView data cited by Cointelegraph showed BTC/USD rising nearly 1.5% on the day after the Wall Street open. The move came as U.S. equities turned higher, reversing some of Wednesday’s weakness.

The shift followed comments from U.S. President Donald Trump on Iran. Trump had earlier said the Iran peace deal was “over,” according to Cointelegraph, but later said, in comments quoted by trading resource The Kobeissi Letter, “They called a little while ago; they want to make a deal so badly.”

Crypto moved with that broader relief trade. CoinGlass data cited by Cointelegraph showed almost $100 million in short liquidations across crypto over 24 hours. A short is a bet that an asset will fall. A liquidation happens when an exchange closes a leveraged trade because the trader no longer has enough collateral to keep it open. When prices rise quickly, forced closures of short positions can add more buying pressure.

Traders focus on nearby Bitcoin levels

Several crypto traders said the next daily close could shape the tone for Bitcoin’s rebound attempt.

Daan Crypto Trades pointed to a near-term range between $61,300 and $64,700 in an X post cited by Cointelegraph. He said Bitcoin had recovered after the prior day’s risk-off move, and described $64,700 as the level that could change the setup if Bitcoin closes above it on the daily chart.

According to Daan Crypto Trades, a daily close over $64,700 would support a broader relief rally. He said a close below $61,300 would put the recent lows back in focus and weaken the recovery attempt.

Trader Jelle also highlighted the importance of reclaiming higher levels. In an X post cited by Cointelegraph, Jelle said Bitcoin bulls were still trying to regain support. He said a move back above that area could put $65,000 to $70,000 back in play, while rejection could bring prices below $60,000 again.

Another trader, Killa, said in an X post cited by Cointelegraph that his view was “not bearish at all.” He said he expected several more months of choppy price action, meaning uneven trading without a clean trend, and identified $68,000 as a possible area to look for a short entry.

Bottom debate remains unresolved

Cointelegraph noted that analysts remain split on whether Bitcoin has already found a bear-market low. The publication said some recent analysis has described a “textbook” bottom forming, while other comparisons with prior Bitcoin cycles still point to the possibility of a lower macro floor.

For now, traders cited by Cointelegraph are treating the $61,300 to $64,700 range as the immediate battleground. A break in either direction would give the market a clearer signal than Thursday’s rebound alone.

This story draws on original reporting from Cointelegraph.