Analysis shows that Bitcoin's resilience remains, and expectations for a return to the $70,000 to $80,000 range are heating up

Matrixport's analysis states that since early February, Bitcoin has maintained a sideways consolidation. Despite escalating geopolitical tensions, weakening U.S. employment data, and a general pullback in global stock markets (with the South Korean stock market experiencing a significant drop at one point), Bitcoin has still shown strong resilience.

Even with a significant surge in oil prices over the weekend, Bitcoin only retraced to the support level around $66,000, and this level continues to provide support. The institution also mentioned in its previous daily report that the likelihood of Bitcoin regaining strength and returning to the $70,000 to $80,000 range is increasing. As the market gradually digests the impact of the Iran conflict, Bitcoin is expected to break free from the disturbances of geopolitical factors and repair towards a higher trading range.