Bitcoin’s price has been recovering over the past few weeks, rising from $52,500 to reclaiming key levels at $57K and $60K. This growth is fueled by the recent Fed rate cuts, which have boosted investor confidence in the cryptocurrency market.
However, the market faces strong resistance at the $64K level, with the 200-day moving average acting as a significant barrier. A bullish breakout above this level could pave the way for a new all-time high for Bitcoin.
Technical indicators such as the Relative Strength Index (RSI) also support a bullish outlook. Traders and investors are closely monitoring these levels to see if Bitcoin can overcome the resistance and surge above $65K this week.
