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XRP Bitcoin returns above US$63,000
Market sentiment towards risky assets has improved as crude oil prices fall and U.S. Treasury yields fall. Bitcoin has risen about 2% in the past 24 hours, returning to the US$63,000 mark. Although the cryptocurrency market remains in a state of extreme fear, this trend shows positive signs.
Market Overview
Bitcoin rose to above US$63,000 as falling crude oil prices and falling government bond yields boosted risk appetite. The cryptocurrency fear and greed index remains in the \"extreme fear\" range, indicating that investor confidence remains fragile. Technical indicators show momentum is improving, and Bitcoin is testing key resistance levels around $63,235.
According to relevant data, Bitcoin (BTC) traded at about US$63,250 on Thursday, rallying along with other major cryptocurrencies after geopolitical concerns related to Iran eased. The trend comes against the backdrop of a retreat in crude oil prices from previous highs and a decline in U.S. Treasury yields-conditions that often prompt investors to switch back to risky assets.
Although a rebound in prices has pushed Bitcoin higher, investor confidence remains fragile. The Cryptocurrency Fear and Greed Index is still in the \"extreme fear\" range of 22, only a slight improvement from 19 a week ago. The reading suggests traders remain cautious even as prices stabilize.
Technical signals show kinetic energy is improving
Outside of the macro background, Bitcoin\'s recent price trend has begun to show signs of technical recovery. On the 4-hour chart, Bitcoin has regained $62,077 near the 61.8% Fibonacci retracement level and is testing resistance near the 78.6% retracement level of around $63,235.
The chart also shows that Bitcoin continues to trade above the uptrend line formed after its rebound in early July. The momentum indicator improves as prices rise. The Relative Strength Index has rebounded to around 55, returning to the neutral level of 50; the MACD histogram has turned positive and the MACD line is approaching a bullish crossing.
Taken together, these indicators indicate an increase in buying pressure, but a continued breakthrough has yet to be confirmed. If it successfully breaks through the current resistance area, it may hit $64,700 near recent highs. On the downside, if buying momentum weakens, the US$62,100 area will remain the first important support level.
In other markets, Ethereum has gained about 1.1% in the past 24 hours, trading just below $2,000. Solana rose about 1.5% to around $78, while XRP remained above $1, and mainstream cryptocurrencies followed Bitcoin\'s rebound.
Falling crude oil and bond yields provide support for cryptocurrencies
Improvements in cryptocurrency prices have coincided with changes in broader financial markets. Crude oil prices, which had previously risen due to geopolitical conflicts that could disrupt global supplies, fell back as concerns about the escalation of the situation eased. At the same time, U.S. government bond yields also fell.
Falling crude oil prices help reduce inflation expectations, while falling government bond yields make fixed-income investments relatively unattractive. Under these conditions, investors are often more willing to allocate funds to assets with higher return potential, including cryptocurrencies.
Bitcoin\'s 2.4% gain over the past seven days suggests that this latest rise is part of a gradual recovery rather than a one-day surge. Even so, the continued reading of \"extreme fear\" suggests that many market participants are still waiting for stronger confirmation signals before turning decisively to bullish.
In terms of industry dynamics, institutional digital asset custodian BitGo has quietly launched a new toolkit focusing on long-term encryption infrastructure. Although the news did not affect current market prices, it highlighted that even though market sentiment remains cautious in the short term, institutions \'investment in blockchain services continues.
Statement: This article does not constitute investment advice. The content and materials presented on the page are for educational reference only.
