Bitcoin is holding a relatively steady gain, holding its ground above $65,300 this morning, in line with a calmer mood across global markets. Both a de-escalation of tensions in the Middle East and a steady trickle of spot ETF buying has lent sufficient support for the price to clock up its fourth consecutive week of gains.
Bitcoin’s Price Drivers Key to this Current Stability1. Cooling Geopolitics bolsters risk appetite Fostering of macro-economic calm thanks to the paused US-Iranian military exchange contributed to the broader sense of growing risk appetite across the market.
A pause for diplomatic conversations: US Permanent Representative Mike Waltz said on April 14th US forces would remain ready for combat operations, but diplomacy needed room to play out. Cryptocurrencies, by their sensitive nature to external macroeconomic uncertainties, rallied off the back of reduced concerns.
This saw key Moving Average levels (MAs) successfully defend the price.2. ETF Inflows gain traction although the buying may be a little less aggressive The net buying in of US spot Bitcoin ETFs totaled $33.79 million for the past week, according to data compiled by So So Value.
The buying was nothing close to the scale of the outflows experienced mid-summer but represent third consecutive weeks of inflows, hinting at returning institutional interest.
Bitcoin Analysis; What To Watch Key Levels The Bulls Bitcoin immediate short-term resistance to overcome is the 78.6% Fibonacci retracement ($65,520) measured against the recent august low ($49,000) to October 2025 high ($126,199), with the 100-day (EMA) at $67,774 and the 200-day EMA at $73,481 as targets. From a wider viewpoint, the resumption of the bull-run to continue up to 61.8% ($78,490) of recent Fibonacci.
The weekly chart MACD has crossed upwards, and RSI is showing it is nearing to the point of oversold levels – below 40 on the technical may help recover buying momentum.
Bitcoin surges past $66K as bullish momentum builds
The Bears A crucial immediate low at the 50 day EMA, around $65,097, then resistance around the recent range lows of $64,004. Anything on or below the 200 Week SMA at $63,561 the range should be abandoned for fear of seeing the ascending ascending trend support line being violated at $59,500 in the longer term picture.