Global Optimism Fuels Bitcoin's Recovery

Bitcoin remained firm above $64,000 (around ₹60.9 lakh) on Wednesday as the cryptocurrency market extended its recovery. Analysts attributed the positive momentum to easing geopolitical tensions, declining crude oil prices, softer US Treasury yields, and improved global risk sentiment. Ethereum also posted modest gains, trading near $1,800 (around ₹1.78 lakh), while several major altcoins, including BNB, Solana, XRP, and Dogecoin, traded higher during the session.

Despite the recovery, market experts cautioned that weak spot-market participation and cautious positioning in the derivatives market continue to limit the chances of a strong breakout. They noted that sustained institutional inflows into US spot Bitcoin ETFs and Friday's US employment report will play a crucial role in shaping investor sentiment. Analysts believe Bitcoin must hold above $64,000 and break through the $64,500–$66,000 resistance zone to confirm a stronger bullish trend.