Bitcoin pushed back above $65,000, up roughly 1.7% in 24 hours, after the US and Iran announced a ceasefire framework set for signing Friday that reopens the Strait of Hormuz.

Bitcoin's mining difficulty fell 10.09% to 124.93 trillion, its 11th-largest drop ever and second-biggest of 2026, after a 15% June price decline pushed miners offline.

Two of the largest names in traditional finance are now circling the same Bitcoin price. Standard Chartered has called $59,000 the cycle bottom outright, while Charles Schwab identifies roughly $60,000 as a historically significant floor.

Bitcoin's leverage has reset, with open interest flushed from $90B to $50B and funding back to neutral near $64,200, yet short-term holders sit underwater and selling at a cycle extreme.

SpaceX holds 18,712 BTC, securing its spot as the 8th largest public corporate Bitcoin holder which ranks it directly above Coinbase.

BlackRock has cleared one of the last regulatory hurdles before launching its iShares Bitcoin Premium Income ETF.

Bitcoin pushed above $63,600 on Thursday after President Donald Trump announced in the Oval Office that the United States had reached a settlement with Iran, pending what he described as the "finalization of documents."

Strategy CEO Phong Le told CNBC the company's first Bitcoin sale in years was a deliberate operational test, not a shift in conviction. The company holds 845,256 BTC valued at approximately $53.2 billion and intends to remain the largest Bitcoin buyer and holder in the world.

Blockstream CEO Adam Back has watched Bitcoin experience multiple 85% drawdowns. His response was not to sell — it was to stop measuring the asset in dollars entirely.

Multiple on-chain indicators suggest Bitcoin may be undervalued at current prices, but historical parallels show cheap can get cheaper before a recovery begins.

Market data reveals a significant structural shift in Bitcoin ownership dynamics as old, dormant supply begins to circulate during a broader price correction. Rather than signaling a market exit, a combined analysis of on-chain activity and exchange-traded fund (ETF) inflows suggests that large-scale, long-term market participants are actively repositioning across the digital asset landscape.

Coinbase Head of Institutional Strategy John D'Agostino reported that sovereign wealth funds and family offices in the Middle East are actively purchasing Bitcoin at current valuation levels. Key Institutional Trends