Bitcoin eyes the $71k level as the $65,735 support holds

Bitcoin has been underperforming over the last 24 hours, down by more than 1% since Wednesday.  The leading cryptocurrency dipped towards the lower consolidation range at $65,759 at the time of writing on Thursday, but the bulls have successfully defended this level. Wednesday’s hawkish Federal Open Market Committee (FOMC) Minutes, alongside rising geopolitical tension between the US and Iran, dampened risk appetite and pressured risky assets. Furthermore, institutional demand for Bitcoin has declined so far this week, adding more pressure to the coin.  BTC retested the $65,735 support level Bitcoin successfully retested the $65,735 support level earlier today after losing more than 1% of its value. However, it has now rebounded and is trading above $66,600.  The bearish performance comes…