Bitcoin has staged a notable recovery over the past few days after a sharp correction drove the asset toward a major demand zone around $60K.
The rebound appears to have been fueled in part by improving macro sentiment following the preliminary peace agreement between the U.S. and Iran, which significantly reduced geopolitical uncertainty and boosted risk appetite across global markets.
The easing of tensions triggered a broad rally in risk assets while supporting Bitcoin’s recovery from recent lows.
Bitcoin Price Analysis: The Daily Chart
On the daily timeframe, $BTC remains within a broader corrective structure despite the recent bounce from the $60K psychological support zone.
This area once again attracted substantial demand, producing a strong reaction and allowing buyers to regain some control in recent sessions. However, Bitcoin is now approaching its first significant resistance cluster around $65K-$67K, which previously acted as support before turning into supply following the breakdown.
The current rebound appears constructive, but the broader structure remains bearish in the short term. $BTC continues to trade below the broken channel and beneath the major resistance region around $72K-$74K. As a result, the ongoing move could still be interpreted as a relief rally unless buyers manage to reclaim higher supply levels.
Should Bitcoin face rejection from the current $65K-$67K supply zone, another corrective move toward the $62K support area remains a realistic scenario. Conversely, a successful breakout above this region would expose the next resistance zone around $72K-$74K.
$BTC/USDT 4-Hour Chart
The 4-hour chart reveals that Bitcoin has recovered steadily from the recent bottom near $60K, forming a rising wedge/flag pattern while climbing from the lower boundary of the demand zone.
The latest surge has pushed the asset directly into the first supply zone between roughly $65.5K and $68K. This area represents the most important short-term obstacle for bulls, as it coincides with a previous consolidation range that eventually triggered the sharp breakdown.
Although momentum has improved considerably following the geopolitical developments, the market is now testing a region where sellers may attempt to regain control. A rejection from the current supply zone could lead to a pullback toward the wedge support and potentially the $62K-$63K area.
If buyers manage to absorb the supply and establish acceptance above $68K, the probability of a deeper recovery toward the higher resistance cluster near $72K-$74K would increase significantly. Until then, the price remains vulnerable to short-term retracements after the recent impulsive move.
Onchain Analysis
The UTXO Age Bands Realized Price chart provides an interesting view of investor positioning during the recent correction.
Bitcoin is currently trading below the realized price of the 1M-3M holder cohort, which is positioned around $75K, while remaining above the realized price of the 18M-2Y cohort near $74K. These levels often act as important psychological zones because they represent the average acquisition cost of different groups of market participants.
The recent decline below the short-term holders’ cost basis suggests that many newer investors are currently holding unrealized losses, a condition that typically weighs on market sentiment during corrections.
The continued upward trend in both realized price cohorts also suggests that capital entered the market aggressively throughout the previous advance. While this does not eliminate the possibility of additional downside volatility, it supports the view that the current phase resembles a correction within a larger cycle rather than a complete trend reversal.
For now, on-chain data remains constructive, but from a technical perspective, Bitcoin is approaching a critical resistance area where the recent relief rally may face its first meaningful challenge. A temporary pullback from the $65K-$68K region would therefore not be surprising before the market attempts a larger recovery.
