Bitcoin has reclaimed the $65,000 resistance level, trading near $66,267 as of Wednesday, marking a roughly 15% recovery from its 2025 low. The move comes as spot Bitcoin exchange-traded funds (ETFs) recorded their sixth consecutive day of net inflows, and the Crypto Fear & Greed Index rebounded sharply from extreme fear to neutral territory.
ETF Inflows Accelerate
Data from multiple fund issuers shows that spot Bitcoin ETFs added $203 million in net inflows on Tuesday alone, bringing the six-day total to over $928 million. Month-to-date, these products have attracted more than $628 million. If the current pace holds, April could see net inflows exceeding $1 billion — a stark reversal from the $4.5 billion in outflows recorded in March and $2.4 billion the month prior.
Investor appetite has also extended to other digital asset ETFs. Ethereum ETFs saw $37 million in inflows on Tuesday, pushing their monthly total to $309 million. Meanwhile, XRP and Solana ETFs have gathered $12.3 million and $13 million, respectively, so far this month. For context on the broader ETF landscape, see our coverage of BlackRock's Q2 earnings and ETF inflows.
The renewed buying appears to be driven by dip-buying sentiment. At its lowest point this year, Bitcoin had fallen 55% from its October 2024 all-time high, leading many investors to view the asset as oversold. Major financial institutions have also weighed in with bullish forecasts: Standard Chartered has set a $100,000 price target, while Bernstein projects $150,000.
Fear & Greed Index Exits Extreme Fear
The Crypto Fear and Greed Index, which tracks metrics such as price momentum of the top ten cryptocurrencies, implied volatility (via the Volmex BVIV), put/call ratios in BTC and ETH markets, and social media activity, jumped from 17 (extreme fear) to 40 (neutral) over the past week. Historically, readings below 20 have often preceded market bottoms, as seen in February when Bitcoin subsequently rallied. Conversely, readings above 75 have frequently coincided with market tops.
Another supportive factor has been the behavior of MicroStrategy (now Strategy), led by Michael Saylor. After selling approximately $200 million worth of Bitcoin earlier this month, the company has halted further sales, removing a potential overhang on the market.
Technical Analysis Points to Key Levels
On the four-hour chart, Bitcoin has been trending higher within an ascending channel and is currently testing the upper boundary. The price has moved above the 50-period exponential moving average (EMA) and has formed an inverted head-and-shoulders pattern, which typically signals further upside. However, momentum appears to be waning in the near term. A decisive break above the channel's upper trendline could open the path toward the psychological $70,000 level. For a closer look at recent resistance tests, see our earlier analysis on Bitcoin testing $65K resistance.
While the confluence of ETF inflows, improving sentiment, and technical patterns suggests a bullish bias, traders should remain cautious given the recent loss of upside momentum. The next few sessions will be critical in determining whether Bitcoin can sustain its recovery or faces renewed selling pressure.
This article is for informational purposes only and does not constitute financial advice.
