Bitcoin has made a strong move, pushing past the <$65,000> mark. This surge comes after weeks of tough times for crypto markets. BTC hit $65,400 early on a weekday, thanks to a weaker US dollar and positive vibes in Asian stock markets. This could be the start of something big.
The total crypto market size dropped to $2.19 trillion earlier this week. This level is close to the lows from the February 5 crash. Now, with BTC leading the charge, the market cap is bouncing back. Experts see this as a key moment.
Alex Kuptsikevich, a top analyst at FxPro, points to a classic chart pattern called the
The
Once the price breaks above the middle peak of the W, it confirms a bullish turnaround. For Bitcoin, the recent lows around $2.19 trillion market cap match this setup. Traders are watching if BTC can push past the $2.47 trillion cap seen 10 days ago.
This pattern has worked for BTC before, like in past bull runs. It gives hope for a trend reversal after months of decline.
Other top coins are riding Bitcoin’s wave. Ether climbed 4.2% in the last day. Solana jumped 7%, and XRP gained 3%. Later updates show even bigger moves: BTC touched $67,500, with Ether, Solana, and Dogecoin up over 10%.
Crypto stocks like Circle also rose, showing strength across the board. This bounce feels clean after weeks of choppy action.
Asian stock markets hit records, up 1.4% on the MSCI index. South Korea and Taiwan led, driven by AI chip stocks ahead of Nvidia’s earnings. This risk-on mood spilled into crypto.
The US dollar weakened too. The Bloomberg Dollar Spot Index fell after a big political speech. Talk of tariffs and even replacing income taxes with them shook things up. A softer dollar often helps Bitcoin, as it makes risk assets like BTC more attractive. Though the link isn’t always steady in downtrends.
Not everyone is cheering yet. Surveys show a “crisis of confidence” in Bitcoin after a nearly 50% drop from highs. Analysts say no clear new drivers for growth right now.
Kuptsikevich warns the bottom might not be in. He thinks real selling panic is still coming. Thin conviction means this bounce could fade if support breaks.
For holders, the
New buyers might wait for neckline break. Day traders can play the momentum with tight risks.
Long-term, Bitcoin’s story ties to global money trends. Weaker dollars, stock rallies, and political shifts could keep upside alive.
| Level | Importance |
|---|---|
| $67,500 | Recent high – resistance test |
| $65,000 | Key support – double bottom base |
| $2.47T market cap | Neckline for confirmation |
| $2.19T | Break here means more downside |
Watch Nvidia earnings, dollar moves, and US policy news. These could sway the next leg.
Bitcoin’s push above <$65,000> revives
Stay tuned as BTC tests higher. This could be the spark for recovery or a false dawn. Either way, the
What do you think? Will BTC hold the pattern? Share in comments below.
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