Bitcoin staged a remarkable recovery over the weekend, maintaining the psychological support above $60,000. BTC price reached approximately $62,950 in intraday trading on Sunday, rising 6.5 percent from the local bottom around $59,100. Some traders in the market saw maintaining this level as important for the short-term outlook.
If Nasdaq weakens, Bitcoin may come to the fore
Bitcoin’s recovery came to the fore after the tech-heavy Nasdaq Composite index fell more than 4 percent on Friday. This decline was recorded as the steepest single-day loss in the index since April 2025. The move in question raised the expectation that some of the risk appetite might turn to the Bitcoin market again.
In the technical assessment shared by experienced analyst Filbfilb, it was stated that Bitcoin remaining above the 200-week simple moving average at approximately $61,880 could be a positive signal. This level was decisive in the formation of the bottom for the price in 2015, 2018 and 2020.
Mini dictionary: Simple moving average is a technical indicator that shows the arithmetic average of closing prices in a certain period. The 200-week average is used to track the long-term trend and is followed by investors as an important support or resistance area.
According to Filbfilb, as long as Bitcoin remains above the 200-week simple moving average, a short dip below $60,000 could be seen as a qualifying move; In this case, the 50-week average at around $92,630 could become the next important target.
In this scenario, the short-term pullback below $60,000 could be interpreted as a clearing of weak hands from the market rather than a permanent breakout. According to the analysis, if BTC maintains its long-term base, the next strong resistance could be the 50-week simple moving average located near $92,630.
Nasdaq indicators point to correction
In the same period, the technical outlook on the Nasdaq front gave weaker signals. While the weekly relative strength index of the index decreased from around 74.75 to 62.46, it was evaluated that the price may enter a correction process towards the 20-week simple moving average near 22,905 points.
Since 2021, every time Nasdaq’s weekly RSI indicator fell from above 70 to below 70, it was seen that the index headed back to the 20-week average. If the same structure is repeated, it may be possible for Nasdaq to retreat to 22,905 points, which would mean an additional decrease of approximately 10.75 percent compared to current levels in June or July.
Bitcoin is in oversold territory against Nasdaq
The ratio between Bitcoin and Nasdaq also stood out as another indicator supporting a possible recovery scenario in favor of BTC. According to daily RSI data, this rate has reached the historical oversold zone again. On Saturday, the indicator fell to 14.70, its lowest value ever. The previous record was 14.88 recorded in February.
Following a similar outlook in February, the Bitcoin price had recovered over 30 percent. For this reason, some analysts put forward the view that Bitcoin remains cheap again compared to Nasdaq and that is why buyers are stepping in. The re-formation of the same structure is among the factors that strengthen the possibility of a new reaction rise in the BTC price in the coming weeks.
