Despite these gains, Bitcoin's upward momentum remains uncertain. Popular trader DonAlt recently stated that bulls would need to push Bitcoin above $65,000 to regain full control of the market. Currently, Bitcoin is still down by over 13% from its all-time high, achieved back in March. If Bitcoin fails to sustain its current rise, it could be on track to record its longest stretch of range-bound trading.
Bitcoin’s recovery to the $64,000 level offers a glimmer of hope, but market participants are still waiting for a decisive breakout. Traders and investors are keeping a close eye on whether Bitcoin can push past the critical $65,000 resistance to establish a more bullish trend in the short term.