Key Points Bitcoin holds above $60,000 despite ETF outflows and risk-off macro sentiment. Market compresses near $65,000 with bullish, base, and bearish scenarios in focus. Bitcoin is trading
Bitcoin is trading between $65,000 and $65,800, gaining roughly 2% on the day.
Despite ETF outflows and cautious macro conditions, price action has remained stable above the $60,000 level.
Analysts had warned of a potential breakdown below $60,000, but sellers have not forced a sustained move lower.
Recent sessions saw BTC reach around $65,500 while speculative leverage remains well below previous cycle peaks.
This reduction in leverage is viewed by some market participants as forming a more sustainable base for spot-driven upside.
The $60,000 area has absorbed repeated selling pressure over several weeks.
On the weekly chart, the RSI shows momentum divergence, with price printing a lower low while the indicator did not, a pattern historically linked to accumulation phases.
The short-term structure reflects compression between clearly defined support and resistance levels.
According to Classical pivot analysis from Traders Union, support sits at $63,567 and $62,819, with a stronger base near $62,435.
Resistance is layered at $65,699, $66,083, and $66,832, while the projected near-term trading range spans roughly $61,700 to $65,500.
In a bullish scenario, a decisive close above $65,000 combined with improving ETF flows could open a path toward $70,000.
The base case suggests continued movement between $62,400 and $65,800 as markets adjust to shifting Federal Reserve communication and evolving volatility expectations.
The bearish scenario would require a weekly close below $59,241, which could expose liquidity pockets in the mid-$50,000 range.
The validity of the current RSI divergence may determine whether the structure supports renewed accumulation or breaks down on the next selloff.
Long-term indicators such as the 200-week simple moving average continue to position current levels within historically supportive territory, pending stabilization in fund flows.
