Analysis: The key support level for Bitcoin is $64,500. Currently, the bears are not strong enough to push Bitcoin quickly below $60,000.

On March 1, crypto analyst Murphy stated, “The greatest current uncertainty in the market still stems from the US-Iran geopolitical conflict. As key events unfold, we need to pay attention to the scope of the conflict, its duration, and its impact on crude oil prices. However, at least over the weekend, with limited participation from institutions and market makers, the bearish forces are not yet strong enough to push BTC quickly below the $60,000 level. This assessment still needs further validation after the US stock market opens next week. If the trend confirms, then the previous analysis regarding ‘how far this rebound can go’ and the key resistance levels will still hold.”