Bitcoin (BTC) Reclaims $64K as “Undervalued” Signals Emerge
Bitcoin (BTC) jumped toward $64,000 for a third time after the market priced in a potential US-Iran deal and rising hopes of de-escalation. BTC struggled to break above the $64K resistance, but broader risk sentiment improved as the US S&P 500 hit a new all-time high.
CryptoQuant analyst Crypto Dan said Bitcoin remains in a “very undervalued zone,” comparing current positioning to historical BTC bottoms. He noted there is no guarantee BTC won’t dip lower, yet the indicator suggests market participants look as uninterested as they did during prior bottom periods—reflected in weak new capital inflows, declining trading volumes, and low search/social engagement.
With a next bull cycle often expected around 2027, the data implies today’s range could be an undervalued area for longer-term investors, even if short-term traders may face overhead resistance near $64K.
Bullish
Bullish, because the news links BTC’s rebound near $64K to improving macro sentiment (US-Iran deal hopes, S&P 500 at record highs) while the CryptoQuant indicator argues Bitcoin remains “very undervalued.” Even though BTC faces $64K resistance, the undervaluation/low-participation signals often show up near prior cycle bottoms, where rallies can start after sentiment revives.
Short-term: momentum could improve as traders chase risk-on, but capped upside is likely until BTC clears the $64K resistance and trading activity (volumes/search) strengthens.
Long-term: if the “historical bottom-like” pattern holds, continued lack of new capital plus later re-engagement can set up a stronger base before the next bull cycle (commonly expected around 2027). Similar past “undervalued + low participation” setups have tended to favor accumulation rather than chasing breakouts immediately at resistance.