Bitcoin Blasts Past $79K on Regulatory Developments and Market Momentum

Bitcoin's price has surged past $79,000, its highest level since late May. The cryptocurrency added over $11,000 to its value in almost 48 hours, marking an 18% move.

The rally coincided with the US Treasury's announcement of increased liquidity support buybacks and a speech by President Donald Trump on digital-asset regulation. Analyst Ali Martinez said this breakout confirms the start of a new bull market.

Martinez sees strong support between $62,000 and $63,000 for BTC and minor resistance above. A break under $75,733 could take the supply zone to $83,300. Other analysts have predicted Bitcoin will reach $100,000 later this year or sooner.