Bitcoin Breaks Above 50-Week Moving Average as Futures Volume Hits $84 Billion

Bitcoin has broken above its 50-week moving average after a prolonged period of upward movement.

The digital asset's price surged to an intraday high of $81,797 before trading lower near $81,400 late in the session.

This represents a daily advance of over 5%, with bulls attempting to maintain momentum toward the $82,000 to $83,000 resistance range.

According to Galaxy Research, Bitcoin's ability to close the week above this level could signal the end of the prolonged bearish trend seen in previous cycles.

Data from CoinGlass indicates that 24-hour futures trading volume has reached approximately $84.74 billion, with open interest rising to around $57.86 billion.