Bitcoin Stabilizes Near $64K Amid ETF Outflows and Hormuz Risk

Bitcoin's price remained relatively stable near $64,000 over the weekend, despite some volatility following Friday's sell-off. The cryptocurrency rebounded from its weekly 200-period moving average and the 0.618 Fibonacci retracement level.

The recovery has not yet led to a significant change in the overall trend, with Bitcoin still trading within a range between $62,000 and $67,000.

Analysts are closely watching the support area around $62,000, as a break below this level could weaken sentiment and lead to further declines. In contrast, a move above $67,000 could signal a stronger relief setup and potentially pave the way for a rise towards $73,000.