US and Iran Continue Technical Talks. Bitcoin, Gold Both Rebound Strongly.

TradingKey - US-Iran continue technical talks on nuclear issue, boosting bullish sentiment for Bitcoin and gold.

On July 10, local easing of the US-Iran conflict gave Bitcoin and gold a breathing room as both rebounded to reclaim key levels. Over the past 24 hours, Bitcoin surged $2,000, rising nearly 3% to trade temporarily at $63,820. Spot gold edged up slightly today, temporarily trading at $4,126.510 per ounce.

Bitcoin price chart, Source: TradingView

From July 6 to 7, Iran consecutively attacked three international commercial vessels that did not follow its designated routes, a move that directly angered the White House. On July 8, US President Donald Trump angrily declared at the NATO summit that "the ceasefire is over," and the US immediately revoked the oil export sanctions waivers previously granted to Iran. From July 8 to 9, the US Central Command swiftly reignited hostilities, deploying fighter jets to launch devastating airstrikes against nearly 90 Iranian targets, while Iran retaliated by launching missiles and drones at the air defense networks of US allied bases in the Middle East.

Previously, renewed tensions between the US and Iran spurred a surge in crude oil prices, while gold plunged toward the $4,000 threshold and Bitcoin fell to around $61,000. Despite this, the "Doha technical talks" between the two sides, mediated by Qatar and Pakistan, did not collapse and communication continued, with Trump stating that another war with Iran would not break out. This turning point directly shattered market panic over a "full-scale US-Iran war," driving Bitcoin and gold to reclaim key levels and establishing a "policy bottom" and "sentiment bottom" for late July.

The core focus for the second half of July is expected to shift from "sudden geopolitical bombings" to the US June CPI inflation data to be released on July 14. As long as the inflation data cools in tandem with falling oil prices, both Bitcoin and gold are expected to rebound further and push higher, with target prices of $67,000 and $4,300, respectively.