Bitcoin has recorded a notable rebound, climbing 4.06% to reach $104,100 at the time of writing.
This upward movement is primarily attributed to strategic corporate treasury moves, a discernible easing of geopolitical tensions, and robust technical rebounds within the market.
Macro Shifts Provide Supporting Tailwinds
Geopolitical calm has also played a crucial role. BTC rebounded as tensions between Iran and Israel cooled following a missile interception by Qatar. Furthermore, a “peace” tweet from President Donald Trump reportedly helped stabilize markets, easing previous risk-off sentiment. These combined factors have allowed Bitcoin to recover from oversold RSI conditions and break above its $100,875 pivot point, indicating a bullish technical rebound.
Corporate Confidence Fuels Rally
Corporate Bitcoin strategies have emerged as a primary catalyst for this surge. Sequans Communications announced a significant $384 million Bitcoin treasury strategy on June 23, partnering with Swan Bitcoin.
This strategic decision follows Metaplanet’s recent acquisition of an additional 1,111 BTC on the same day, a move that mirrors MicroStrategy’s well-known playbook. Such corporate endorsements signal increasing institutional confidence in Bitcoin and can effectively reduce the circulating supply, which is particularly impactful given Bitcoin’s 98.75% distribution to retail-sized wallets.
Kosta Gushterov
Reporter at Coindoo
Kosta has been a part of the team since 2021 and has solidified his position with a thirst for knowledge, incredible dedication to his work and a “detective-like” mindset. He not only covers a wide range of trending topics, he also creates reviews, PR articles and educational content. His work has also been referenced by other news outlets.
Source: https://coindoo.com/bitcoin-surges-above-104000-as-iran-israel-tensions-ease/