Bitcoin has had a rough couple of weeks and is currently trading just below $60,000. But this could be the area where long-term buyers start to step in—a potential recovery ground after the recent brutal sell-off.
The most promising sign for the king crypto would be a deceleration in exchange-traded fund (ETF) outflows. After what felt like an eternity of red days, the market has digested most of the bad news. If inflows start to trickle back in, it could be the spark that reignites Bitcoin’s surge. Historically, these funds have been a powerful engine for demand, so even a gradual stabilization in ETF trends could breathe new life into the token. On top of that, some investors are eyeing the sub‑$60,000 level as a bargain bin—a chance to load up on BTC at a steep discount. And the tape doesn’t lie: the last time Bitcoin touched this threshold, it jumped by more than 10%.
On the macro front, the landscape is still restrictive, yet it is not all doom and gloom. The Federal Reserve’s (Fed) hawkish stance and a resilient dollar are weighing on risk appetite. However, the market has already factored in that interest rates will stay elevated until year-end. Here is the silver lining: if upcoming US inflation and employment data come in softer than expected, the greenback could lose some steam, paving the way for a risk appetite comeback and giving Bitcoin the fuel it needs to climb higher.
All in all, the fundamental outlook for the crypto is better than it seems. After the latest sell-off, the stage is set for a technical rebound. If Bitcoin can defend the $59,000 line and sentiment keeps improving, $65,000 will be the next stop on the upside.
The final recommendation:
— Buy the BTCUSD pair at the current price, aiming to reach $65,000 within a few weeks.
— To protect yourself against sudden market movements, place a Stop Loss order just below the $59,000 support.
