Bitcoin tops $63K as oil prices ease
- Bitcoin (CRYPTO:BTC) climbed above US$63,000 as lower oil prices and Treasury yields boosted demand for risk assets.
- The Crypto Fear & Greed Index remained in Extreme Fear despite Bitcoin's 2.4% weekly gain.
- Technical indicators showed improving momentum, with Bitcoin testing resistance near US$63,235.
Bitcoin (CRYPTO:BTC) rose above US$63,000 as easing oil prices and lower US Treasury yields lifted demand for higher-risk assets.
Bitcoin traded near US$63,250 after gaining 2.4% over the past week, but the Crypto Fear & Greed Index remained in Extreme Fear at 22.
Bitcoin reclaimed the 61.8% Fibonacci retracement level near US$62,077 and tested resistance around US$63,235, while the Relative Strength Index rose above 50 and the MACD turned positive.
A move above US$63,235 could open the way to the recent high near US$64,700, while US$62,100 remains the first key support level.
Ethereum (CRYPTO:ETH) rose about 1.1% to just below US$2,000, Solana (CRYPTO:SOL) gained about 1.5% to around US$78, and XRP (CRYPTO:XRP) held above US$1 as the broader crypto market strengthened.
Lower oil prices and falling Treasury yields improved market sentiment, while BitGo also launched a new crypto infrastructure toolkit, showing continued institutional investment in blockchain services.
At the time of reporting, Bitcoin price was $63,105.85.
