Bolton went into the game on the back of 5 straight league defeats but Sven felt it was a reasonable result given Bolton are battling for Premier League survival.
Although City could not claim victory in a match of few chances, Sven was glad to avoid defeat with European rivals Aston Villa and Portsmouth both losing, while Everton drew at home to West Ham.
"It was a battle, but we knew that would be the case before we came here and you have to be prepared for it," said Sven.
"Our attitude and spirit were good, we defended well, and that's not easy against Bolton with their long balls and long throw-ins.
"We need to play more football, take it down on the ground, and the few times we did that we did create some chances. I always hope we can play on the ground more, but I realise it is difficult and some games are like this.
"It was a fair result if you look at the chances, they had a few and we had some as well - Felipe Caicedo had a great chance near the end, but it was a superb block on the line."
Although City closed the gap on Villa and Portsmouth, Blackburn's win over Wigan saw them leapfrog City on goal difference.
That left the Blues in 9th, 8 points adrift of 5th-placed Everton with 7 games remaining.
"One point here is not bad, and the spirit the boys showed proves that they have not given up this season," Sven added.
"We took a point, and at the end, who knows? This might be a very important point.
"It was important that we didn't lose such a game. Aston Villa lost and Portsmouth lost as well so every point is important to us."
Although City could not claim victory in a match of few chances, Sven was glad to avoid defeat with European rivals Aston Villa and Portsmouth both losing, while Everton drew at home to West Ham.
"It was a battle, but we knew that would be the case before we came here and you have to be prepared for it," said Sven.
"Our attitude and spirit were good, we defended well, and that's not easy against Bolton with their long balls and long throw-ins.
"We need to play more football, take it down on the ground, and the few times we did that we did create some chances. I always hope we can play on the ground more, but I realise it is difficult and some games are like this.
"It was a fair result if you look at the chances, they had a few and we had some as well - Felipe Caicedo had a great chance near the end, but it was a superb block on the line."
Although City closed the gap on Villa and Portsmouth, Blackburn's win over Wigan saw them leapfrog City on goal difference.
That left the Blues in 9th, 8 points adrift of 5th-placed Everton with 7 games remaining.
"One point here is not bad, and the spirit the boys showed proves that they have not given up this season," Sven added.
"We took a point, and at the end, who knows? This might be a very important point.
"It was important that we didn't lose such a game. Aston Villa lost and Portsmouth lost as well so every point is important to us."