Bitcoin (BTC) is trading near $64,100 on Wednesday as renewed institutional inflows and hopes for a diplomatic breakthrough between the United States and Iran support risk sentiment. BTC is approaching a key resistance area around its 50-day Exponential Moving Average at $64,650. A decisive break above this barrier could strengthen the recovery and open the way toward higher resistance levels. US-Iran deal hopes improve risk sentiment Investors remain hopeful that diplomatic negotiations could bring an end to the five-month conflict between the United States and Iran. US Treasury Secretary Scott Bessent said Washington could reach an agreement with Tehran to reopen the Strait of Hormuz by Tuesday or Wednesday and move toward a more normalized position in the conflict.