Key insights
- Bitcoin's price surge above $64,000 is driven by rebounding ETF inflows and improved risk sentiment, partly fueled by optimism around a potential US-Iran peace agreement. SpaceX's significant Bitcoin holdings, revealed in its IPO filing, also boosted crypto sentiment. The return of net inflows to US spot Bitcoin ETFs suggests stabilizing institutional demand, potentially indicating a broader recovery in risk assets.
Investing.com -- Bitcoin traded above $64,000 on Sunday, extending its recovery from recent lows as improving risk sentiment, strong spot ETF inflows, and optimism surrounding a potential U.S.-Iran peace agreement supported demand for the world’s largest cryptocurrency.
Bitcoin rose more than 1% over the previous 24 hours, and was trading at $64,475.5 as of 04:56 ET (08:56 GMT). The cryptocurrency has now recovered more than 8% from its June low near $59,000 after briefly falling below the $60,000 level earlier this month.
Investor sentiment improved after Pakistan Prime Minister Shehbaz Sharif said a peace agreement between Washington and Tehran was closer than ever, with finalization potentially coming within days.
Fund flows also showed signs of stabilization after several weeks of persistent outflows.
U.S. spot Bitcoin ETFs recorded net inflows of $85.9 million on Friday, marking their strongest daily intake since mid-May. The return of positive flows suggests institutional demand may be beginning to recover after a period of heavy selling.
Some analysts have suggested that recent ETF outflows were partly driven by investors raising cash to participate in SpaceX’s record-breaking initial public offering. With the aerospace company now publicly traded, that temporary source of selling pressure may be fading.
SpaceX has also attracted attention within crypto markets after revealing in its IPO filing that it held 18,712 Bitcoin at the end of the first quarter. The position was valued at approximately $1.29 billion and makes the company one of the largest corporate Bitcoin holders among publicly listed firms.
Unlike companies whose business models revolve around cryptocurrency accumulation, SpaceX described the asset as a strategic treasury reserve held alongside corporate cash. Investors are expected to closely monitor how the company manages the position through future earnings cycles.
Attention is also turning to developments in artificial intelligence after Anthropic recently unveiled its Fable 5 AI model. Industry participants have highlighted the potential benefits of advanced AI tools for software development and security, while also warning that increasingly powerful systems could accelerate cyber threats targeting cryptocurrency platforms.
Despite the recent rebound, Bitcoin remains well below its record high of nearly $126,000 reached in late 2025. Market participants will now watch whether ETF demand continues to strengthen and whether easing geopolitical tensions can support further gains in the weeks ahead.
Broader crypto prices were largely mixed on Sunday.
World no.2 crypto Ether was last up 0.08% to $1,675.82.
XRP gained 0.20% to $1.1454.
Solana added 1.31% while Cardano lost 1.16%, respectively, on Sunday.
Among memecoins, Dogecoin had climbed 0.08% for the day, while $TRUMP was trading flat at $0.0248.
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