Improving Risk Appetite Fuels Rebound, Bitcoin Eyes Another Test of the $70,000 Level

Summary:

Easing tensions between the United States and Iran, combined with a recovery in market risk appetite, have helped drive a rebound across the cryptocurrency market. Although Bitcoin remains in a medium-term corrective phase, technical indicators suggest bearish momentum is fading. As long as key support levels remain intact, the market could extend its advance toward and beyond the $70,000 mark.

BUY BTC-USDT

EXP

TRADING

65969.5

Entry Price

72001.0

60000.0

64511.2 +9.3 +0.01%

0.0

Pips

Flat

60000.0

Exit Price

65969.5

Entry Price

72001.0

Fundamentals

Over the past several trading sessions, risk sentiment has improved significantly following a preliminary agreement between the United States and Iran, which helped ease geopolitical tensions. The total cryptocurrency market capitalization rose approximately 2.1% over the past 24 hours to $2.36 trillion, extending the recovery that began from early-June lows.

Meanwhile, SpaceX's successful IPO further boosted investor confidence, attracting capital into growth-oriented and higher-risk assets. Part of this capital flowed back into cryptocurrencies, allowing the market to find solid support near its 200-week moving average. From a structural perspective, the current rebound is still more likely to be viewed as a corrective rally following the decline from May's highs rather than the beginning of a new bull market cycle.

The stabilization of the broader crypto market has also benefited major digital assets. Bitcoin found strong buying interest around the $60,600 area, significantly easing short-term selling pressure. Investors are largely adopting a wait-and-see approach as they await clearer directional signals for the next major move.

Improving Risk Appetite Fuels Rebound, Bitcoin Eyes Another Test of the $70,000 Level_1

Technical Analysis

Bitcoin traded near $66,300 on Tuesday, extending the rebound that began over the weekend. However, from a trend perspective, the price remains below its 50-day, 100-day, and 200-day moving averages and has yet to reclaim the previously broken ascending trendline. As a result, the medium-term technical outlook remains bearish.

On the positive side, the daily Relative Strength Index (RSI) has recovered to around 46, indicating that oversold conditions are gradually being repaired. At the same time, the MACD has turned positive and moved above the zero line, suggesting downside momentum is weakening and bearish control is gradually fading.

Should selling pressure continue to ease and prices break through nearby resistance levels, Bitcoin could launch another challenge toward the psychological $70,000 level and potentially test higher upside targets.

Overall, improving risk sentiment has triggered a technical rebound in Bitcoin, while both MACD and RSI indicate diminishing bearish momentum. As long as the $64,000 support region remains intact, the current recovery structure is likely to continue, paving the way for another attempt toward the $70,000 area. Although the longer-term trend has yet to fully reverse, short-term bulls are beginning to regain control.

On the downside, the first major support level is located near $64,010. A sustained break below this area could open the door to a deeper correction toward the $60,000 region. Conversely, if support holds, Bitcoin is likely to remain in a broad consolidation range below its major moving averages while building momentum for its next directional move.

Trade Recommendation

Trade Direction: Buy

Entry Price: 65,100

Target Price: 72,001

Stop Loss: 60,000

Valid Until: 2026-07-15 23:55

Support Levels:64,745, 63,615, 60,670

Resistance Levels:67,428, 70,676, 72,410

Risk Warnings and Disclaimers

You understand and acknowledge that there is a high degree of risk involved in trading. Following any strategies or investment methods may lead to potential losses. The content on the site is provided by our contributors and analysts for information purposes only. You are solely responsible for determining whether any trading assets, securities, strategy, or any other product is suitable for investing based on your own investment objectives and financial situation.

Risk Disclosure

The risk of loss in trading financial instruments such as stocks, FX, commodities, futures, bonds, ETFs and crypto can be substantial. You may sustain a total loss of the funds that you deposit with your broker. Therefore, you should carefully consider whether such trading is suitable for you in light of your circumstances and financial resources.

No decision to invest should be made without thoroughly conducting due diligence by yourself or consulting with your financial advisors. Our web content might not suit you since we don't know your financial conditions and investment needs. Our financial information might have latency or contain inaccuracy, so you should be fully responsible for any of your trading and investment decisions. The company will not be responsible for your capital loss.

Without getting permission from the website, you are not allowed to copy the website's graphics, texts, or trademarks. Intellectual property rights in the content or data incorporated into this website belong to its providers and exchange merchants.

Recent Searches

Top Searches

Markets

Analysis

User

24/7

Economic Calendar

Education

Data