Bitcoin erased its mid-week, geopolitically driven losses on Friday, surging 2% to an intraday peak of $64,653 and lifting the total crypto market cap to $2.28 trillion.
Key Takeaways
On July 10, bitcoin surged to $64,653, reversing losses from Middle East tensions.The sudden rally forced a massive $170 million in short liquidations across the crypto market.Bitunix Analyst warns bitcoin’s macro trend relies on holding the critical $64,000 level.A tense lull settled over the region following 48 hours of intense U.S. bombardments, which observers classified as some of the heaviest since the conflict began. However, experts warn that this pause in kinetic action is merely a prelude to further escalations. The core trigger remains unresolved, as Washington and Tehran remain deadlocked over fundamentally incompatible interpretations of maritime sovereignty and security protocols within the Strait of Hormuz, as spelt out in the memorandum of understanding.
