Key factors:
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Bitcoin gained 3% to above $105,000 on June 24 as Israel and Iran agreed to a ceasefire.
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Continued capital influx into spot Bitcoin ETFs is boosting investor confidence throughout the market.
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A basic bullish sample is in play, positioning BTC worth for a rally to $144,000.
Bitcoin (BTC) is up at the moment, rising over 3% within the final 24 hours to round $105,000 on June 24.
Information from Cointelegraph Markets Professional and TradingView reveals that the BTC/USD pair climbed as a lot as 8% to a excessive of $106,100 on June 23 from a low of $98,240 on June 22.
Let’s check out the components driving up Bitcoin worth at the moment.
Israel-Iran ceasefire restores threat urge for food
On June 24, US President Donald Trump introduced that Israel and Iran had agreed to a ceasefire, considerably boosting world threat urge for food and propelling cryptocurrencies greater.
The “12-day battle,” which concerned Israeli and US strikes on Iranian nuclear services and Iranian retaliatory assaults on Israel, in addition to strikes on US navy bases in Qatar, had rattled markets, pushing Bitcoin under $100,000.
The ceasefire has eased fears of escalation and potential disruptions to grease provides by means of the Strait of Hormuz.
Consequently, traders are rotating again into threat belongings, with Bitcoin’s rise to $106,000 main restoration throughout the broader crypto market.
Spot Bitcoin ETF inflows increase BTC worth
Bitcoin’s worth rise at the moment coincides with rising capital inflows into US spot Bitcoin exchange-traded funds (ETFs), highlighting the rising demand for regulated publicity to the cryptocurrency.
Spot Bitcoin ETFs have recorded inflows for 10 consecutive days, bringing the full inflows $49.9 billion since their market debut on Jan. 11, 2024, as per knowledge from Farside Traders. Roughly $350.6 million flowed into spot Bitcoin ETFs on June 24.
Further knowledge from CoinShares reveals that institutional traders asserted their optimism in crypto markets as $1.24 billion flowed into crypto funding merchandise final week, marking a 10-week streak of inflows.
Bitcoin funding merchandise comprised $1.1 billion, indicating rising investor confidence in BTC because the main digital asset.
Extra institutional demand got here from company traders, with Technique, previously MicroStrategy, the highest company Bitcoin holder, buying 245 BTC price about $26 million final week. Japan’s Metaplanet has bagged one other 1,111 BTC for about $118 million, per a June 23 announcement.
Metaplanet has acquired 1,111 BTC for ~$118.2 million at ~$106,408 per bitcoin and has achieved BTC Yield of 306.7% YTD 2025. As of 6/23/2025, we maintain 11,111 $BTC acquired for ~$1.07 billion at ~$95,869 per bitcoin. $MTPLF pic.twitter.com/1vUdTc0Mti
— Simon Gerovich (@gerovich) June 23, 2025
With rising institutional demand for Bitcoin, the value is predicted to proceed its upward trajectory towards all-time highs and into worth discovery.
Bitcoin’s cup-and-handle sample targets $144,000
From a technical perspective, the BTC/USD pair has been forming a cup-and-handle chart sample on its day by day chart since Jan. 20, positioning it for a large transfer greater.
Be aware that BTC worth now trades contained in the deal with vary, eyeing a break above the resistance at $105,000, the 50-day easy transferring common (SMA). If this occurs, the value will rise to confront resistance from the sample’s neckline at $109,000.
A decisive day by day candlestick shut above the neckline may lead the BTC worth to confront resistance from the $112,000 all-time excessive reached on Might 23.
Breaking this barrier would clear the trail towards the technical goal of the prevailing chart sample at $144,000, up 37% from the present stage.
The relative energy index, or RSI, is at 69, and a “bullish cross” from the SMAs means that the market situations nonetheless favor BTC’s upside.
As Cointelegraph reported, a transfer to new all-time highs above $112,000 could be attainable by the tip of this week if the resistance on the 50-day SMA ($105,000) is flipped into new assist.
This text doesn’t include funding recommendation or suggestions. Each funding and buying and selling transfer entails threat, and readers ought to conduct their very own analysis when making a choice.
