Bitcoin recovers above $66K on Tuesday. A rebound in Asian technology stocks restored some risk appetite.
This follows last week’s semiconductor selloff. The recovery continues from June lows near $58,000.
Why Bitcoin recovers above $65K
BTC traded around $66,339 at the time of writing. It is up 3.25% over 24 hours. It gained 5.99% over seven days. Trading volume stands near $30.08 billion.
The broader crypto market also moved higher. Ethereum trades near $1,940. XRP is around $1.13. Solana sits at $78.34. BNB is near $578. Hyperliquid trades around $63.11. Dogecoin is near $0.073.
Asian equity markets showed sharp reversals. South Korea’s Kospi rose 4.7%. Japan’s Nikkei gained 2.8%. Taiwan’s Taiex climbed 3.6%.
The rebound followed the same market drivers. Semiconductor and AI stocks sold off sharply last week. Investors questioned high valuations. They also reacted to new competition from China’s AI sector. Bitcoin fell below $64,000 during that period.
Buyers returned to many stocks on Tuesday. Samsung Electronics recovered. SK Hynix and Taiwan Semiconductor also rebounded. BTC moved with the improved market mood.
Oil offered some support to risk markets. Brent crude fell about 1% toward $88. This followed reports of a proposed 10-day ceasefire. The ceasefire is between the US and Iran. Fighting remains active nevertheless. No agreement has been confirmed. The pullback in oil eased some pressure nevertheless.
ETF inflows strengthen the recovery
US-listed spot Bitcoin ETFs turned positive recently. This follows a difficult stretch of withdrawals. The funds attracted $226.9 million on Monday.
This extended net inflows to five consecutive sessions. Total across the streak is about $727.3 million.
Heavy selling occurred earlier in the summer. More than $4 billion left ETFs during June. A 13-session outflow streak removed $4.37 billion. The recent shift marks a clear change from the redemptions.
Large Bitcoin wallets accumulated about 270,000 BTC. That is worth roughly $16.7 billion. This happened during ETF heavy withdrawals. Renewed ETF buying could now add another demand source.
Bitcoin indicators improve as $70K becomes next test
Bitcoin’s daily chart shows stronger short-term momentum. The MACD line sits near 492. It is above the signal line at 103. The histogram remains positive around 389. Buying momentum has strengthened from the downside phase.
The RSI also supports the short-term recovery. It stands near 60.98. This is above its moving average around 53.02. It is also above the neutral 50 mark. The indicator remains below overbought levels nevertheless.
Holding above $65,000 keeps the recovery intact. The $70,000 area is the next closely watched test.
Onchain data offers another view of BTC’s position. Alphractal’s four-year standardized MVRV model identifies undervaluation. Readings below a Z-score of -1 signal historical undervaluation. This could present stronger windows for dollar-cost averaging.
The MVRV metric does not provide short-term price forecasts. Historical patterns do not guarantee future returns. Nevertheless, it adds another data point as BTC rebuilds momentum. BTC is about 48% below its 2025 peak above $126,000.
