• Bitcoin hovers above $63,000 on Monday, holding steady after five straight days of recovery totaling 7% gains last week.
• Risk-off market sentiment eases amid stabilizing geopolitical and inflation risks.
• Pump.fun and Hyperliquid extend gains over the last 24 hours.

Bitcoin (BTC) steadies above $63,000 at press time on Monday following a five-day recovery stretch last week, totaling roughly 7% gains. Easing risk-off sentiment in the broader market supports the mild recovery in action, with Pump.fun (PUMP) and Hyperliquid (HYPE) leading gains over the last 24 hours. 

Crypto market sentiment regains strength

The broader crypto market sentiment shows a mild recovery, with Bitcoin’s rebound from $60,000 last week. US Federal Reserve Chairman Kevin Warsh said inflation risk had eased last week, citing the ongoing ceasefire and improved transit through the Strait of Hormuz. CoinMarketCap’s Fear and Greed Index rises to 29 on Monday, up from 17 last week, indicating risk-off sentiment easing from “Extreme Fear” to “Fear.”

Bitcoin’s recovery approaches 50-day EMA

Bitcoin hovers above $63,000 at press time on Monday, with a mild near-term bullish bias emerging after five consecutive days of recovery. The King Crypto approaches the 50-day Exponential Moving Average (EMA) at roughly $65,766, which is well under the 200-day EMA near $75,717.

From a technical perspective, BTC should clear the 50-day EMA at $65,766 for a sustained upward trend, targeting the previous swing high at $67,292, followed by the $70,000 round figure.

The Relative Strength Index (RSI) at 51 hovers slightly above the neutral midline, and the Moving Average Convergence Divergence (MACD) is rising above its signal line, suggesting mild upside momentum but not yet sufficient to overcome the prevailing overhead supply.

On the downside, immediate support is seen at the horizontal floor around $60,000, where a break would likely expose further weakness and deepen the current corrective phase.

Renewed uptrend in PUMP nears 100-day EMA

Pump.fun extends gains on Monday after gaining roughly 5% the previous day. The token launchpad token rises above the 50-day EMA at $0.001570, targeting the immediate 100-day EMA at $0.001728.

PUMP holds above the 50% retracement level, measured over the recent downswing from $0.002252 to $0.001151, at $0.001610. A decisive close above $0.001728 could extend the recovery to the 78.6% Fibonacci retracement level at $0.001951.

A steady recovery in the MACD and signal line with an expanding positive histogram suggests a surge in buying pressure.

On the downside, immediate support clusters between the 50-day EMA at $0.001570 and the 50% retracement level at $0.001610, followed by secondary floors at $0.001349 and $0.001151 if selling pressure resumes.

Hyperliquid tests a triangle pattern breakout

Hyperliquid hovers above $70 on Monday, edging higher after 2% gains the previous day. The recovery tests a near-term resistance trendline, where a decisive close above it would confirm a bullish breakout of a symmetrical triangle pattern.

The R1 Pivot Point at $77.12 would serve as an initial target, followed by the R2 Pivot Point at $89.18.

The MACD histogram has turned positive and is expanding as the average lines rise following a bullish crossover on Saturday, suggesting buyers retain control.

On the downside, immediate support is located at the center Pivot Point at $64.89, near the rising support trendline around $65.00.

(The technical analysis of this story was written with the help of an AI tool.)