Bitcoin has broken above the $64,000 resistance level, but analysts say signals pointing to a long-term downtrend remain valid. Attention is focused on whether it can settle at the level after briefly rising to $65,511. Technical indicators are mixed, with the dead cross still in place, though trend strength measures suggest weakening bearish momentum. A softer U.S. PPI and lower Fed hike odds have supported risk assets, but caution persists in crypto markets.

Bitcoin rose to $63,960 ahead of the weekly close, its highest level in about two weeks, as markets watched a break above $65,000. The rebound coincided with short liquidations of just over $100 million across the crypto market. Traders flagged $60,400 to $60,900 as a key support zone. U.S. equity futures opened higher after a holiday, while upcoming releases include FOMC minutes, purchasing managers indexes and additional jobs data.