LONDON — Bitcoin maintained its steady upward trajectory on Monday, holding firm above the $65,300 threshold in tandem with a broader relief rally across global financial markets. The leading cryptocurrency clocked its fourth consecutive week of positive price action, heavily supported by cooling geopolitical tensions in the Middle East and consistent inflows into spot ETFs. Risk appetite across the broader digital asset space surged following comments from U.S. Permanent Representative Mike Waltz, who confirmed a strategic pause in U.S.-Iranian military engagements to prioritize diplomatic channels. This macroeconomic breather successfully allowed Bitcoin to defend key moving average support levels from aggressive downside pressure.
According to institutional tracker SoSoValue, net inflows into U.S. spot Bitcoin ETFs totaled $33.79 million over the past week. While less aggressive than the massive volume witnessed earlier in the year, this marked the third consecutive week of positive inflows, signaling a resilient return of institutional buying interest. From a technical analysis perspective, short-term bulls are aggressively eyeing the 78.6% Fibonacci retracement level at $65,520 as the immediate resistance to beat, measured from the recent August low to the October 2025 peak of $126,199. Immediate upside targets are set at the 100-day Exponential Moving Average (EMA) of $67,774 and the 200-day EMA at $73,481. Conversely, the market’s bears are looking for a break below the 50-day EMA near $65,097, with critical long-term structural support resting firmly at the 200-week Simple Moving Average (SMA) of $63,56
