Bitcoin Surges Above $65,000 as US Dollar Weakens and Double-Bottom Pattern Forms

Bitcoin's price rebounded strongly on Wednesday, rising above $65,000 as the US dollar weakened and Asian equities rallied. This marked the first significant gain for Bitcoin in weeks, with the broader crypto market also experiencing a boost.

The potential double-bottom pattern, identified by analysts at FxPro, could have significant implications for the market. If the level holds, there is roughly 10% upside, but if it fails, FxPro's Alex Kuptsikevich warned of a further 25% decline.