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Bitcoin Surges Above $104,000 as Iran-Israel Tensions Ease

Bitcoin Surges Above $104,000 as Iran-Israel Tensions Ease

Bitcoin has recorded a notable rebound, climbing 4.06% to reach $104,100 at the time of writing.

This upward movement is primarily attributed to strategic corporate treasury moves, a discernible easing of geopolitical tensions, and robust technical rebounds within the market.

Macro Shifts Provide Supporting Tailwinds

Geopolitical calm has also played a crucial role. BTC rebounded as tensions between Iran and Israel cooled following a missile interception by Qatar. Furthermore, a “peace” tweet from President Donald Trump reportedly helped stabilize markets, easing previous risk-off sentiment. These combined factors have allowed Bitcoin to recover from oversold RSI conditions and break above its $100,875 pivot point, indicating a bullish technical rebound.

Corporate Confidence Fuels Rally

Corporate Bitcoin strategies have emerged as a primary catalyst for this surge. Sequans Communications announced a significant $384 million Bitcoin treasury strategy on June 23, partnering with Swan Bitcoin.

This strategic decision follows Metaplanet’s recent acquisition of an additional 1,111 BTC on the same day, a move that mirrors MicroStrategy’s well-known playbook. Such corporate endorsements signal increasing institutional confidence in Bitcoin and can effectively reduce the circulating supply, which is particularly impactful given Bitcoin’s 98.75% distribution to retail-sized wallets.

Author
Kosta Gushterov

Reporter at Coindoo

Kosta joined the team in 2021 and quickly established himself with his thirst for knowledge, incredible dedication, and analytical thinking. He not only covers a wide range of current topics, but also writes excellent reviews, PR articles, and educational materials. His articles are also quoted by other news agencies.

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