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 slipped below $62,000 twice during the session but later lost direction around $62,500 after the U.S. stock market opened. Volatility rose as Asian tech shares slid and caution grew ahead of Micron Technology’s quarterly guidance. Analysts and traders pointed to speculation around Micron results, liquidity concentration and heavy liquidations. Market participants are watching whether bitcoin regains support near $62,000 or faces further downside pressure.