Bitcoin climbed back above $63,000 and rebounded intraday. Risk appetite for higher-risk assets returned after U.S. President Donald Trump’s remarks on Iran, with BTC/USD rising above $63,000 and up about 1.5 percent on the day.

On July 9, Cointelegraph reported that U.S. stocks also rose across the board. As markets retraced some of the previous day’s weakness, the cryptocurrency market also joined the rebound. Trump mentioned that Iran peace talks were over, then said Iran wanted negotiations.

The market reaction was swift. CoinGlass data showed crypto short liquidations over the past 24 hours were close to $100 million. As prices rebounded, positions betting on declines were unwound in large numbers.

Traders again flagged key short-term levels. Trader Killa said, "The current move is not bearish at all," and saw choppy, range-bound trading lasting for several more months. He pointed to $68,000 as a potential short-entry zone.

Analyst Jay judged that buying pressure had not yet faded. He said, "It looks like the bulls have not given up on trying to reclaim it." He saw the rebound as more than a simple technical retracement and as a possible attempt to regain support.

A line for the daily close was also highlighted. Daan Crypto Trades said bitcoin was moving in a $61,300 to $64,700 range and identified $64,700 as a key level for the daily close. He said, "Bitcoin is moving in the $61,300 to $64,700 range, and after risk-off selling yesterday, it climbed again this morning."

The focus is whether this rebound leads to a breakout above the top of the range. The market has rebounded on renewed risk appetite triggered by Middle East-related remarks and short liquidations, but whether it can hold $64,700, the top of the trading zone, remains a variable that could determine the short-term direction.

At the same time, differences in views over whether bitcoin has formed a bottom continue. Some recent analysis says a textbook bottoming process is under way, while others argue that a deeper low is still needed based on the macro cycle. In this situation, whether the rebound signals a trend reversal or remains a recovery within the existing range is expected to be judged for now by the daily closing price and whether buying demand persists.