Bitcoin trades near $63,944 today, up 2.56% over the past 24 hours. The token has gained 3.88% over the past week. Its Support now holds near $61,500, with a strong floor around $58,500. On the other hand, Resistance sits at $65,000, however, a tougher wall still exists near the $66,500 mark.
Giving the market overview, Akshat Siddhant, Lead Quant Analyst at Mudrex, stated, “Bitcoin is holding above the $63,000 level after climbing back overnight. Oil prices eased, and President Trump signaled Iran wants a deal. The recovery still looks fragile, though.”
He further mentioned, “The US 10-year Treasury yield has climbed toward 4.6%, renewing concerns over tighter financial conditions. Spot recorded $84 million in net outflows on Wednesday, ending a three-day inflow streak worth $509 million. Markets are now focused on Friday’s $1.4 billion options expiry. A sustained move above $63,500 could open the path toward $65,000.”
Speaking about the current market situation, the CoinSwitch Markets Desk noted, “BTC steadied today, holding just above $63K after Wednesday’s dip. Fears over Iran cooled off fast, and oil prices slid back toward $70. Markets shook off the geopolitical jitters, and buyers returned to crypto. Traders are still playing it safe, though, with options showing steady demand for downside protection. BTC is holding firm near $63K, awaiting a firmer catalyst.”
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Meanwhile, Riya Sehgal, Research Analyst at Delta Exchange, said risk sentiment has improved but it stays fragile, as she adds, “Oil has eased from its recent spike, easing inflation worries and helping equities stabilize. Tech and AI-linked stocks led the rebound this week.”
She further mentioned, “Bitcoin’s bounce from $62,000 shows dip-buying interest returning to the market. The structure isn’t fully bullish until BTC sustains above $64,000 to $65,000. A breakout can open room toward $66,500 to $68,000. Ethereum looks technically stronger, holding above key moving averages with $1,800 as resistance.”
