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04/03/26 10:40 UTC-04

Bitcoin Rises Despite U.S.-Iran Tensions! Is the Bear Market Ending? Analytics Firm Weighs In

While the conflict between the United States and Iran continues to pressure global markets, Bitcoin ($BTC) and the broader cryptocurrency market are showing notable resilience.

Although Bitcoin and altcoins initially declined at the onset of the conflict, they later recovered. In fact, Bitcoin experienced a sudden rebound today, climbing above $71,000.

Crypto analytics platform K33 Research stated that despite ongoing Middle East tensions and macroeconomic uncertainty, $BTC has demonstrated resilience, and the market’s downtrend may be nearing its end.

In a new report, K33 Research analysts noted that after six consecutive weeks of decline, $BTC has entered oversold territory, with the weekly RSI approaching historical lows.

The report also highlighted that spot Bitcoin ETFs recorded their largest weekly inflow in the past five months, confirming institutional buying.

Additionally, funding rates in the perpetual futures market turned negative at the end of last month, indicating a reduced probability of further price declines.

On-chain data also suggest decreasing selling pressure from long-term holders who have held $BTC for more than six months.

Based on these indicators, K33 Research concluded that there are currently no strong reasons to sell $BTC at present price levels and that the downtrend may be nearing completion. Analysts further suggested that low volatility and reduced sensitivity to macroeconomic shocks could create favorable conditions for long-term accumulation.

See also: "Bitcoin, Ethereum, XRP and Altcoins See Sharp Recovery: BTC Surpasses $71,000! Latest Data"

#Bitcoin (BTC) #Price Increase #Bearish Trading

Editor: Alyona Nabok
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