Bitcoin has continued to defend the $66,000 area even as geopolitical tensions, higher oil prices, and pressure across broader markets weighed on risk sentiment. In his latest chart analysis, technical analyst Markus Thielen said crypto markets have reacted only mildly, with Bitcoin avoiding a major breakdown.
According to Thielen, Bitcoin has been consolidating between $62,000 and $68,000 since late 2025. Within that range, $66,000 has acted as a key base. The level has absorbed selling pressure during equity market weakness and periods of risk-off trading, helping stabilize price action while other markets came under strain.
Repeated Tests of $66,000 Have Not Broken the Floor
From a technical perspective, repeated tests of support without a decisive breakdown point to a market that has been absorbing supply. Thielen said Bitcoin’s ability to revisit $66,000 several times and still hold the range suggests that buyers remain active at that zone. The message is simple. The floor has not given way.
That resilience has stood out during the latest phase of Middle East tension. The report said Bitcoin saw only mild pullbacks rather than a larger correction, while markets have started to treat Iran-linked developments as carrying limited risk.
Analyst Sees Room for a Return to the $70,000-$80,000 Band
If the effect of geopolitical headlines fades in the coming period, Thielen said Bitcoin could revisit its previous trading corridor in the $70,000 to $80,000 range. The narrow consolidation band and the repeated rejection of downside breaks are being read as signs that a positive catalyst could trigger a fast upward move in the short term.
The article also noted that Bitcoin’s correlation with global equities has been weakening. That shift has led some market participants to view the asset as a possible alternative safe haven. Even with oil prices lifting global inflation concerns, Bitcoin has remained relatively insulated from that pressure.
Coinbase Discount Narrows as U.S. Selling Pressure Eases
During the latest bout of volatility, Bitcoin on Coinbase traded below international platforms, signaling heavier local selling in the U.S. That discount has started to narrow, especially as downside pressure softened when Bitcoin approached $60,000.
The return of the Coinbase premium toward neutral levels is being taken as a sign that intense U.S. selling has begun to ease. Alongside technical indicators showing weaker selling momentum, analysts said Bitcoin may be in position for an upward reaction as markets absorb geopolitical developments and uncertainty recedes.