Bitcoin Creeps Toward $65K Amid Cautious Market Recovery
Bitcoin's price recovered slightly on Thursday, inching closer to $65,000 after rebounding from its monthly low near $62,200. The cryptocurrency briefly touched the $65,000 threshold before slipping below it, leaving traders without a confirmed breakout.
The recovery showed improving resilience in Bitcoin, but the market remains cautious and hesitant. The price of BTC gained about 0.9% over 24 hours to roughly $64,700, outperforming a broader crypto index that advanced only 0.16%. Its market capitalization reached around $1.3 trillion.
Ethereum provided the strongest large-cap advance, climbing more than 2% and moving above $1,900. Several other prominent tokens weakened, including BNB, XRP, SOL, TRX, and DOGE, while HYPE and ZEC fell more than 2%. The uneven performance suggested traders were seeking relative safety in Bitcoin and Ether.
Derivatives offered cautious support, with long positions representing nearly 52% of taker volume. Bitcoin's implied volatility held near 36%, while options activity showed interest in calls at $80,000 and $96,000.