Bitcoin Tops $65,555 as Iranian Oil Returns, WTI Near $73

Bitcoin climbed to $65,555 at Monday’s Wall Street open, exchange data showed, marking its highest level since midweek on Bitstamp. U.S. stock indexes opened lower amid uncertainty over a U.S.-Iran agreement.

The United States granted permission for two months of Iranian oil trading, allowing Iranian crude to re-enter global markets for the first time since 2018. U.S. WTI crude slipped toward $73 per barrel, near its lowest levels since early March.

Traders pointed to pockets of order-book liquidity around the spot price as the main driver of intraday swings. Daan Crypto Trades wrote on X: “Took out that thick liquidation cluster above $65K. Right after the U.S. Market open. Going to be important where this moves in the next few hours.”

A liquidity-monitoring account estimated roughly $2.5 billion of bitcoin positions were liquidated over the past seven days, with both long and short positions closed out during volatile moves. The account noted concentrated stop orders between $65,000 and $67,000 above the market and larger liquidation clusters between $61,000 and $63,000 that could attract a retracement.

Some traders flagged a possible run toward $70,000 if bulls hold the breakout on short-term charts. CrypNuevo wrote that sustaining the low-timeframe breakout could open a path to $70,000. Trader Killa noted a recent pattern, writing that six consecutive Mondays had marked local pivot highs before prices moved lower.

Market participants also noted that the oil reentry eased some supply concerns that had supported crude earlier in the year, which weighed on energy-sector shares. The session’s moves reflected shifting liquidity and risk appetite across crypto and energy markets.