Bitcoin has hit $64,400 on Friday, retesting the level that rejected it on Monday, with a clean break above opening the path toward the June 15 high of $67,250. According to latest reports, the cryptocurrency is currently at the price it failed to penetrate on Monday, and if it can break past this level, it will likely advance toward the June 15 peak. The latest rally was fueled by $79.5 million in short liquidations over 24 hours and reports that the United States and Iran would continue peace talks, which helped revive risk appetite across crypto markets. The rebound followed two volatile sessions in which fresh U.S. strikes on Iranian targets and Tehran's attacks on American bases pushed WTI crude toward $75 and drove Bitcoin down toward $62,500.
Ethereum has rebounded toward $1,800 after a sharp short squeeze across crypto derivatives markets restored appetite for risk assets. According to latest data, Ether has reclaimed key resistance near $1,750 after bouncing from the 0/8 support around $1,500, with the cryptocurrency now testing the upper edge of that range near $1,800-$1,833. The rally was accelerated by a wave of forced short liquidations that pushed ETH through several resistance levels, with CoinGlass liquidation data showing one of the largest short liquidation clusters sitting between $1,790 and $1,810. Asian markets provided additional catalyst as South Korea's Kospi index jumped roughly 4% as artificial intelligence and semiconductor stocks rallied, encouraging a wider return to growth assets. Despite U.S. spot Ether ETFs recording a combined net outflow of about $52 million on Thursday, overseas spot demand and crypto-native buying more than offset weaker institutional flows.
Technical indicators favor bulls as Ethereum has broken above the 78.6% Fibonacci retracement at approximately $1,773 and is trading just below resistance near $1,833. On the 4-hour chart, momentum has strengthened as the MACD completes a fresh bullish crossover with expanding positive histogram bars, while the RSI has climbed above 62 without yet entering overbought territory. The Chaikin Money Flow has climbed back into positive territory at 0.08, suggesting capital has started returning after weeks of sustained selling. However, $1,800 remains the decisive hurdle with the $1,800-$1,833 region combining Fibonacci resistance with a dense liquidity pocket, making it the first major test for bulls. Analyst Ted Pillows notes that "ETH is holding above the $1,750 level, which is a good sign," while fellow analyst Alex Marzell believes "one clean breakout above the upper trendline could change everything."
Major cryptocurrencies mostly advanced alongside bitcoin, with ether rising 2.6% to $1,760 and up 4% on the week. According to CoinDesk, solana added 2.6% to $78 while still carrying a 2.1% weekly loss, the only major that has not clawed back to green. XRP gained 2.2%, TRON climbed 1.2% and leads the majors at 4.7% over seven days, while hyperliquid's HYPE added 1.8% to $68. Dogecoin rose 2.6% while remaining 0.8% underwater on the week. Lighter (LIT) continues to impress, rising more than 200% since May 16 and adding 5% since midnight UTC, building on momentum as traders look for the next hyperliquid. The performance comes amid broader altcoin strength, with WLFI and DEXE joining LIT as top performers.
Fresh regulatory developments have improved sentiment as CFTC leadership has urged the U.S. Senate to advance the Digital Asset Market Clarity Act, a proposal that would establish a clearer regulatory framework for digital assets. Ethereum continues to dominate the tokenized real-world asset market with nearly half of global RWA value secured on its network, reinforcing the chain's position as institutional tokenization activity expands. However, failure to hold $1,750 would weaken the recovery setup, with repeated rejection from the $1,800-$1,833 area increasing the likelihood of another move toward $1,725. Macro risks remain as any renewed escalation in the Middle East, stronger-than-expected U.S. inflation data, or another wave of ETF outflows could reduce demand for risk assets and interrupt Ethereum's recovery. Until buyers establish support above $1,800, the current advance remains a recovery rally rather than a confirmed long-term trend reversal.
