Bitcoin managed to hold above the crucial $60,000 level and the $62,000 support line this week, even as geopolitical tensions and forced selling from corporate treasuries tested the market. A bounce from the bull market trendline on Monday negated a potential bearish M pattern, and the price is now attempting to break back above the 200 SMA to target $63,000. The stochastic RSI on the weekly chart has printed a bullish cross-up near 20, a historically positive signal.
Market maker Wintermute offered cautious optimism in its latest review. The firm noted that an eight‑week streak of outflows from spot BTC ETFs has finally reversed, meeting one of their two preconditions for a market recovery. The other — a stable structure that prevents cascading liquidations on bad news — was also satisfied as Bitcoin held $62,000 despite Strategy’s sales. However, Wintermute stressed that a single week of inflows is not enough to confirm a new uptrend. Analysts pointed to upcoming CPI data, the Fed’s subsequent tone, sustained ETF inflows, and developments in the Strait of Hormuz as the real catalysts for a recovery. The firm concluded that “the current situation points to a market that has halted its decline but hasn’t yet begun to recover.”
