Bitcoin: Reclaims $65,000 on Falling DXY

Bitcoin has reclaimed ground above $65,000 as the DXY extends its downtrend and Treasury yields slide in tandem, setting up further upside for risk-on assets according to trader Michaël van de Poppe.

Historical data from the past year shows Bitcoin price correlation with falling DXY and Treasury yields has repeatedly fueled rallies above $65,000 resistance levels, confirming the macro setup now in play.

Price action on the 4h chart sits at $65461.26 inside the Bollinger Bands with the upper resistance at $65463.0 while RSI(14) prints 71.68 in overbought territory and MACD confirms a bullish golden cross; with price testing upper Bollinger resistance while RSI flashes overbought, a healthy retracement to the 50-EMA support at $63951.78 appears probable before continuation toward the stated $68,000 and $73,000 BTC price prediction levels.