Bitcoin surges back above $64,000: Geopolitical easing and risk appetite rebound

June 14, 2026, Bitcoin made a strong rebound and broke above the $64,000 mark, rebounding more than 8% from the recent low of around $59,100 earlier this month, driving mainstream cryptocurrencies like Ethereum and Solana to follow suit.

This rally is mainly driven by three catalysts: first, the potential signing of an agreement between the US and Iran, and the possible reopening of the Strait of Hormuz, easing geopolitical tensions and significantly boosting global risk asset appetite; second, SpaceX completed the largest IPO in history on Nasdaq, which previously forced a reduction in Bitcoin holdings to participate in the IPO, and the selling pressure from ETF sales was lifted, leading to a renewed net inflow into spot Bitcoin ETFs; third, from a technical perspective, the RSI was previously deeply oversold, causing a large number of short positions to be forcibly liquidated, creating a "short squeeze" that amplified the upward momentum.

Standard Chartered's head of digital assets Kendrick believes the cycle's bottom has already been reached, maintaining a target price of $100k by the end of the year. However, with US May PPI still high, rate cut expectations limited, and ETF overall still showing net outflows, whether institutional demand truly returns remains to be seen.

In the short term, the $64,000–$65,000 range has become a key resistance zone. If volume can stabilize above this level, the price could potentially reach $68,000–$70,000; losing the $63,500 support could lead to a retest of $60,000–$62,000. Investors should pay attention to the progress of the US-Iran agreement and subsequent ETF fund flows, and beware of false breakout risks.