Bitcoin Breaks Above $79,300 Resistance Level
Bitcoin (BTC) has reached its highest level in 11 weeks after climbing above $79,300 on Wednesday. The move represents a 3.8% gain in the 24-hour window and comes with a total market cap of over $1.57 trillion for BTC alone.
The surge in price is backed by significant trading volume, with CoinGecko data showing approximately $51.9 billion in 24-hour trades. This break above the $78,000 resistance level that had capped multiple attempts in recent weeks marks a key milestone for Bitcoin.
Investor sentiment remains strong, with Kevin O'Leary citing institutional durability concerns and narrowing his crypto portfolio to Bitcoin and Ethereum (ETH) only. Invesco Galaxy Ethereum ETF recorded $1.2 million in inflows on April 20, indicating parallel accumulation in ETH as BTC leads the move higher.
The next widely watched resistance point is the $80,000 level, with a close above that price marking the highest weekly close for Bitcoin since early February. Early signals from ETF flow data suggest net positive positioning from institutional products, adding to the bullish sentiment surrounding BTC.