Bitcoin Price Surges to $64,000 as Volatility Compression Deepens

Bitcoin's price has risen nearly 2% to above $64,000 after buyers defended the $63,300 area on August 17. Analyst Michael van de Poppe believes this reaction is a crucial indicator for further price growth.

In an X post, Van de Poppe noted that Bitcoin tested the level and was quickly bought up, which he said is necessary for the cryptocurrency to trend higher.

He expects the current recovery to hold if the $63,300 area continues to be supported, potentially leading to a price target of $65,000.