Peace Talks, Peace Profits: $BTC Sprints Past $64K as Diplomats Discover Group Chats

Bitcoin climbed above $64,000 on Saturday after a cascade of public statements from U.S., Iranian and Pakistani officials suggested a Middle East peace agreement was nearing finalization, with Pakistan's prime minister saying the deal could be completed within 24 hours. The largest cryptocurrency by market capitalization reached an intraday high above $64,200, putting it up more than 1% over 24 hours and on track to break a four-week streak of weekly losses, according to TradingView data.

Pakistan's Prime Minister wrote 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." Earlier on Thursday, U.S. President Donald Trump had said on Truth Social that he had "cancelled the scheduled strikes and bombings against Iran this evening" after "discussions with the Islamic Republic of Iran have been brought to the highest level of Iranian leadership and approved." Trump added that the "Time and place of the signing" would be announced shortly and listed the United States, Israel, Saudi Arabia, UAE, Qatar, Turkey, Pakistan, Bahrain, Kuwait, Jordan and Egypt as parties whose discussions and final points had been "approved by all parties involved."

On Thursday, $BTC had risen 2.28% to $63,173.68 intraday after Trump's post, having earlier dipped to around $62,300 following hotter-than-expected U.S. producer price index data. Iranian Foreign Minister Abbas Araghchi then said on X that the Islamabad MOU "has never been closer," while urging media to refrain from speculating about its content. "In line with our responsible and transparent approach, all details will be shared with the public in due course," he added. Bitcoin subsequently pushed through the $64,000 threshold, trading around $64,100 after bouncing from an intraday low near $62,800.

The rally coincided with a $85.9 million net inflow into U.S. spot Bitcoin ETFs on Friday, the largest daily inflow since May 14, and followed a roughly 8% recovery from a June low just above $59,000. A Standard Chartered analyst said ETF holders had been anecdotally liquidating positions to free up cash for the SpaceX initial public offering, which launched on Friday, and suggested that selling pressure tied to that event may now begin to ease. No figures in this story constitute financial advice.