Bitcoin rebounded nearly $2,000 from its recent low on Tuesday, climbing to $64,000 for the third time in 24 hours as markets priced in a potential U.S.–Iran deal. The S&P 500 hit a new all-time high amid President Donald Trump’s claims of a pending agreement. CryptoQuant analyst Crypto Dan noted that Bitcoin remains in a “very undervalued zone,” with indicators showing market participants as uninterested as during prior bottoms. Low capital inflows, dwindling trading volumes, and weak social media engagement support this view. Dan expects the next bull cycle around 2027, but cautioned that further downside is not ruled out.
Bitcoin’s price moved sharply higher on Tuesday, jumping to $64,000 for the third time in the past day after rebounding nearly $2,000 from yesterday’s low. The move coincided with the S&P 500 reaching a fresh all-time high as U.S. President Donald Trump continued to claim that the country would reach a deal with Iran, giving the latter until tomorrow to fold.
Markets are currently riding high on hopes of a more sustainable de‑escalation, as stated by a widely followed crypto analyst. Some analysts speculate that rising U.S. stock indices could propel a more profound Bitcoin rally, though the $64,000 resistance has so far proven too strong.
CryptoQuant analyst Crypto Dan noted that the cryptocurrency remains in a “very undervalued zone,” adding that Bitcoin has reached a “position similar to its historical bottoms of the past.” While he admitted there is no absolute certainty Bitcoin won’t go lower, the indicator “shows that market participants are as uninterested in the crypto market as they were during previous bottoms.”
This lack of interest is reflected in the absence of new capital entering the market, dwindling trading volumes, and low search and social media engagement. Looking ahead, Crypto Dan said, “Looking ahead to the next bull cycle — expected to begin around 2027 — there’s little doubt that the current range represents an undervalued zone.”
