Bitcoin recovers above $66K after testing $58K lows, but technical indicators remain mixed amid macro uncertainty.
Bitcoin climbed to $66,347 on Wednesday, recovering from recent lows near $58,000 as the 200-period exponential moving average held as support. The move follows a sharp drop to the $53K–$54K range earlier in the week, though the daily death cross—where the 50 EMA falls below the 200 EMA—remains active.
Traders are closely watching for a potential golden cross, though sentiment is divided. Data from Myriad shows 64.6% of traders expect Bitcoin to hit $55K before $84K, reflecting caution. The Crypto Fear & Greed Index stands at 33, signaling a cautious but not panicked market.
Macro conditions add to uncertainty, with U.S. equities mixed ahead of key earnings reports from Alphabet and Tesla. The S&P 500 dipped 0.16%, while the Nasdaq fell 0.56%, as investors await signals on AI spending trends.