Bitcoin Rebounds To $63,000, Lifting Ethereum, XRP, Dogecoin By 3%, But Beware 'Shallow' Bounces, Analyst Says

Benzinga02:27

Bitcoin is rebounding off the back of a relief rally after hitting some of its most oversold levels ever. Notable Statistics: Notable Developments: Trader Notes: Crypto Bully explained Bitcoin briefly...

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href=\"https://www.benzinga.com/crypto/cryptocurrency/26/06/53070230/bitcoin-rebounds-to-63000-lifting-ethereum-xrp-dogecoin-by-3-but-beware-shallow-bounces-analyst-says\">Source Link</a>\n\n</div>\n","source":"benzinga_hot_news","html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Bitcoin Rebounds To $63,000, Lifting Ethereum, XRP, Dogecoin By 3%, But Beware 'Shallow' Bounces, Analyst Says</title>\n<style 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after hitting some of its most oversold levels ever.\nNotable Statistics:\nNotable Developments:\nTrader Notes:\nCrypto Bully explained Bitcoin briefly...</p>\n\n<a href=\"https://www.benzinga.com/crypto/cryptocurrency/26/06/53070230/bitcoin-rebounds-to-63000-lifting-ethereum-xrp-dogecoin-by-3-but-beware-shallow-bounces-analyst-says\">Source 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tapped $60,000, a heavily watched support level, and held firm as short sellers took profits, helping fuel a rebound. Market panic around Strategy’s STRC and fears of large-scale Bitcoin sales by Michael Saylor eased after Saylor instead added to his Bitcoin position.\nThe next key resistance sits around $71,000-$72,000, aligning with the monthly open.\nA rejection there could trigger a pullback, while a breakout above that zone would increase the odds of Bitcoin taking out its range highs.\nTrader KillaXBT expects Bitcoin to trade sideways for the next several months rather than stage a sharp V-shaped recovery. Historically, bear market bottoms have involved extended periods of consolidation and range-bound trading before a sustainable uptrend emerges.\nAs a result, any near-term rallies are likely to be \"shallow\", with the market needing more time to build a base before a stronger trend reversal can develop.\nImage: Shutterstock\nTo add Benzinga News as your preferred source on Google, click here.","kind":"news","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"isVideo":false,"video":null,"symbols":[],"gpt_button":0,"need_auth":false,"need_login_tip":false,"code":"91000000","status":"200"},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"tenantId":"TBGLOBAL","deviceId":"web-server-community-laohu8-v3","version":"4.43.1","shortVersion":"4.43.1","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2642443968","isCrawlerRequest":true}