Bitcoin price news: BTC zoomes above $65,000 as bullish 'double-bottom' hopes build
Bitcoin rebounded above $65,400, supported by a weaker dollar and rising Asian equities, sparking double-bottom formation hopes.Summary
Bitcoin reclaimed $65,400 in early Wednesday trading, driven by a softer U.S. dollar and a risk-on sentiment in Asian equities, which saw the broader crypto market cap bounce from recent lows near $2.19 trillion. This rebound has analysts considering a potential textbook double-bottom pattern, which could imply roughly 10% upside if the support level holds. However, if the level fails, a further 25% decline is possible, according to Alex Kuptsikevich of FxPro. Major tokens like Ether, solana, and XRP tracked the bounce. The weaker dollar followed President Trump's State of the Union address, where he reiterated tariff plans. Despite the rally, conviction remains low, with some analysts reporting a "crisis of confidence" and suggesting that true capitulation may still be ahead.
(Source：CoinDesk)