Bitcoin eyes $65K base as selling pressure fades

Bitcoin may be forming a base around $65,000 as selling pressure eases and weaker “paper hands” exit the market, according to Fidelity strategist Jurrien Timmer.

The cryptocurrency, trading in the low $70,000s, is showing technical strength at this support level, with analysts suggesting a foundation for future upside if conditions stabilise.

Timmer said broader markets are “pricing in some form of resolution” to geopolitical tensions, with strong earnings helping offset risks despite ongoing uncertainty.

Market signals including oil backwardation, stable credit spreads and limited equity drawdowns indicate investors expect current disruptions to be temporary rather than systemic.

Bitcoin’s behaviour is increasingly aligning with gold, with capital rotating between the two assets as investors adjust to shifting macro conditions.

While Timmer remains bullish, he noted that a clear catalyst such as easing tensions or improved economic data will be needed to drive the next leg higher.

Despite the constructive outlook, risks remain, including potential escalation in the Middle East and rising interest rates, which could pressure both crypto and broader markets.

At the time of reporting, Bitcoin price was $71,067.26.