According to TradingView data, Bitcoin ($BTC ) was trading at approximately $84,234 at the time of writing, up around 0.55% on the daily candle. The cryptocurrency reached an intraday high of $84,290 after recovering from a low of $83,462.
The recovery follows a difficult week for Bitcoin, during which its price briefly fell toward $80,000 after repeatedly failing to sustain gains above $87,000.
Although buyers have returned at lower prices, recent U.S. spot Bitcoin ETF withdrawals and uncertainty over the Federal Reserve’s next interest rate decision have kept traders cautious.
Technical indicators now show improving buying momentum, with Bitcoin trading above its major daily moving averages. However, a move above $85,000 remains necessary before the cryptocurrency can challenge its recent highs.
The recovery follows a difficult week for Bitcoin, during which its price briefly fell toward $80,000 after repeatedly failing to sustain gains above $87,000.
Although buyers have returned at lower prices, recent U.S. spot Bitcoin ETF withdrawals and uncertainty over the Federal Reserve’s next interest rate decision have kept traders cautious.
Technical indicators now show improving buying momentum, with Bitcoin trading above its major daily moving averages. However, a move above $85,000 remains necessary before the cryptocurrency can challenge its recent highs.