Demand for the world's largest cryptocurrency was supported by improved risk appetite, strong inflows into spot ETFs, and optimism about a potential peace deal between the US and Iran.
Bitcoin traded above $64,000 on Sunday, continuing its recovery from recent lows.
Bitcoin has risen more than 1% in the past 24 hours, trading at $64,475.5 as of 11:56 AM. The cryptocurrency has recovered more than 8% from its June low near $59,000 after briefly falling below $60,000 earlier this month. Investor sentiment improved after Pakistani Prime Minister Shahbaz Sharif said a peace agreement between Washington and Tehran was closer than ever and could be finalized within days.
Flows also showed signs of stabilizing after weeks of steady outflows.
On Friday, US spot Bitcoin ETFs recorded net inflows of $85.9 million, the strongest daily total since mid-May. The return to positive flows suggests that institutional demand may be beginning to recover after a period of heavy selling.
Some analysts have suggested that the recent ETF outflows were partly due to investors raising funds to participate in SpaceX's record-breaking initial public offering. Now that the aerospace company has gone public, this temporary source of selling pressure may ease. SpaceX also attracted attention in cryptocurrency markets after disclosing in its IPO filing that it held 18,712 bitcoins at the end of the first quarter. The position was valued at approximately $1.29 billion, making the company one of the largest corporate holders of bitcoin among publicly traded companies.
Unlike companies whose business models rely on accumulating cryptocurrency, SpaceX described the asset as a strategic treasury reserve, held alongside corporate cash. Investors are expected to closely monitor how the company manages this position during future earnings cycles.
Attention is also turning to the development of artificial intelligence after Anthropic recently unveiled its Fable 5 AI model. Industry participants have highlighted the potential benefits of advanced AI tools for software development and security, while warning that increasingly powerful systems could accelerate cyber threats targeting cryptocurrency platforms. Despite a recent rebound, Bitcoin remains well below its all-time high of nearly $126,000 reached in late 2025. Market participants will now be watching to see whether demand for ETFs continues to strengthen and whether easing geopolitical tensions can support further gains in the coming weeks.
Cryptocurrency Prices Today: Altcoins Mostly Mixed on Sunday
Broader cryptocurrency prices were mostly mixed on Sunday.
The world's second-largest cryptocurrency, Ether, was last up 0.08% at $1,675.82.
XRP added 0.20% to $1,1454.
Solana gained 1.31%, while Cardano lost 1.16%, respectively, on Sunday.
Among memecoins, Dogecoin rose 0.08% on the day, and $TRUMP was flat at $0.0248.