Bitcoin traded above $64,000 on Sunday, continuing its recovery from recent lows, amid improved risk sentiment, strong inflows into spot ETFs, and optimism surrounding a possible U.S.-Iran peace deal, which supported demand for the world's largest cryptocurrency.
Bitcoin rose more than 1% in the past 24 hours, trading at $64,475.50 as of 7:56 AM. The cryptocurrency has recovered more than 8% from its June lows near $59,000, after briefly dipping below $60,000 earlier this month.
Investor sentiment improved following Pakistani Prime Minister Shehbaz Sharif's statement that a peace agreement between Washington and Tehran was closer than ever, with the possibility of it being finalized within days.
Fund flows also showed signs of stabilizing after weeks of continuous outflows.
US-based Bitcoin spot ETFs saw net inflows of $85.90 million on Friday, marking their strongest daily inflow since mid-May. The return of positive flows suggests that institutional demand may be starting to recover after a period of heavy selling.
Some analysts have suggested that recent outflows from ETFs were partly due to investors liquidating their assets to participate in SpaceX's record-breaking initial public offering. With the space company now publicly trading, this temporary selling pressure may be easing.
SpaceX also attracted significant attention in the cryptocurrency markets after disclosing in its initial public offering (IPO) document that it held 18,712 Bitcoins at the end of the first quarter. This holding was valued at approximately $1.29 billion, making the company one of the largest publicly traded companies in terms of Bitcoin holdings.
Unlike companies whose business models are based on cryptocurrency accumulation, SpaceX has described these assets as a strategic treasury reserve held alongside the company's cash reserves. Investors are expected to closely monitor how the company manages this holding across future earnings cycles.
Attention is also turning to the latest developments in artificial intelligence, after Anthropic recently unveiled its Fable 5 smart model. Industry participants have highlighted the potential benefits of advanced AI tools in software development and cybersecurity, while also warning that increasingly sophisticated systems could accelerate cyber threats targeting cryptocurrency platforms.
Despite the recent recovery, Bitcoin is still far from its all-time high of around $126,000 reached in late 2025. Market participants will be watching to see if demand for ETFs continues to strengthen, and whether the easing of geopolitical tensions can support further gains in the coming weeks.
Cryptocurrency prices today: Altcoins mostly fluctuate on Sunday
Prices for the broader cryptocurrency range were widely divergent on Sunday.
Ether, the world's second-largest cryptocurrency, rose 0.08% to $1,675.82.
XRP coin rose by 0.20% to reach $1.1454.
Solana added 1.31%, while Cardano lost 1.16% on Sunday.
Regarding meme coins, Dogecoin rose 0.08% during the day, while $ TRUMP traded steadily at $0.0248.
