Bitcoin rises above $65,000
Bitcoin is back in focus and has climbed above $65,000 with a weekly gain of more than 10%. Strong trading volumes and growing institutional interest are driving this momentum.
The rally is fueled by low US inflation and speculation that the Federal Reserve will cut interest rates, weakening the dollar and pushing investors towards Bitcoin. Spot Bitcoin ETFs continue to attract long-term institutional capital, creating sustained buying pressure and reducing available supply.
Technical strength and caution
Data from the chain shows an increase in whale accumulation, while retailers are slowly regaining confidence. BTC has broken the $62,000 support level, with the next resistance around $66,000-$67,500. Technical indicators suggest that there is still room for a rise to the all-time high of $69,000.
Traders should be careful. Despite favorable conditions, there can be widespread risk and sudden volatility. Proper risk management is essential when riding at these high speeds.