$BTC breaks above 64000 and pulls back again—is a new round of gains coming?
There are several bullish catalysts at present:
First, the US-Iran talks have resulted in an agreement, pushing oil prices lower; rising expectations of interest-rate cuts are highly favorable for BTC.
Second, the market is betting on rate cuts, with expectations for September heating up. As long as the rate-cut thesis remains intact, money will continue flowing into the crypto market.
In addition, ETFs are recovering, returning to net inflows, which will also provide buying support for BTC.
On-chain data also shows