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- Bitcoin climbed above $64,000 on Saturday, gaining more than 8% from its June low near $59,000 and putting it on track to end a four-week losing streak.
- U.S. spot bitcoin ETFs recorded $85.9 million in net inflows on Friday, the largest daily inflow since May 14.
- Pakistan's Prime Minister said a peace agreement is closer than ever, with finalization expected within 24 hours and technical talks scheduled for next week, boosting hopes of reduced regional tensions.
Bitcoin climbed above $64,000 on Saturday, reaching an intraday high of more than $64,200. The largest cryptocurrency by market capitalization is up more than 1% over the past 24 hours and is now up over 8% from its June low of just above $59,000.
Sentiment has also been supported by further positive developments on the geopolitical front in the Middle East.
Pakistan's Prime Minister stated on X: "We are closer to a peace deal than ever before. With finalisation likely within the next 24 hours, Pakistan is preparing for the electronic signing of the agreement immediately afterwards, followed by technical-level talks next week."
Meanwhile, Friday recorded the largest daily inflow into U.S. spot Bitcoin ETFs since May, with net inflows totaling $85.9 million. The last time inflows exceeded this level was on May 14.
On Friday, a Standard Chartered analyst said that ETF holders have anecdotally been liquidating their positions to free up cash to participate in the SpaceX initial public offering. After SpaceX's IPO launch on Friday, it may finally ease that selling pressure, the analyst added.
Bitcoin is currently up around 1% on the week. If it maintains those gains through the weekly close, it would break a streak of four consecutive weeks of losses.
Read more: Bitcoin hit bottom at $59,000 marking end to the crypto winter, says Standard Chartered analyst
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