Bitcoin resumes its rally, even though sentiment across global equity markets still suggests risk aversion — visible even in falling precious metal prices, particularly silver. There is a possibility that capital leaving the silver market may be partially rotating into the surprisingly resilient BTC. Since the US attack on Iran, the cryptocurrency’s price has risen by around 10%, after initially dropping to roughly $63,000 in the immediate reaction.
At the same time, USD strength has not triggered declines in the crypto market, and the unwinding of various momentum trades (including positions in memory-chip suppliers) has not caused a sharp drop in BTC prices. One reason may be that the crypto market had already been heavily oversold, which currently limits its correlation with the broader market.
Bitcoin (D1)
BTC is currently trading near the upper range of its consolidation channel following the recent declines. The main test of strength may emerge in a scenario where the price moves toward around $76,000, where the EMA50 is located. This level has repeatedly acted as a significant resistance zone since autumn — notably in early October 2025 and mid-January 2026.
A breakout above this level could signal renewed pressure toward the $90,000 area. On the other hand, a bearish reaction within the $70,000–$76,000 range could trigger another downward impulse, potentially pushing the price below $60,000.

Source: xStation5
BTC has already broken above the 23.6% Fibonacci retracement, while the 38.2% retracement further highlights the $75,000 area as a potentially key resistance level.

Source: xStation5
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