Bitcoin (BTC) Price: BTC Hits $65K and VanEck Says the Bottom Could Be In
TLDR
- Bitcoin hit $65,000 for the first time since August 10, rising alongside a rebound in US stocks
- VanEck says 8 of 12 capitulation signals are flashing, suggesting Bitcoin may be nearing an accumulation phase
- US spot Bitcoin ETFs saw nearly $300 million in inflows on Monday, the strongest day since May 5
- Analyst Aksel Kibar sees $76,000 as a potential upside target if the current rebound holds
- Long-term holders dropped below 60% of circulating supply after shedding 356,000 BTC in 30 days
Bitcoin climbed back to $65,000 on Tuesday for the first time in over a week, as US stocks bounced and geopolitical tensions around the Strait of Hormuz eased slightly following comments from President Trump.
Trump posted to Truth Social confirming that the Strait of Hormuz was โopen and operatingโ and that all water mines had been removed or detonated. The S&P 500 rebounded from 7,696, its lowest point since August 4, helping risk assets recover.
Oil prices stayed relatively calm, with WTI crude down 1% at around $84 per barrel. US 30-year bond yields, however, climbed to 5.34%, their highest level since January 2007.
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