Bitcoin Breaks Downtrend, Surges to Record High

Bitcoin's price surged by 23.58% last week, marking its strongest weekly percentage gain since 2023 and breaking a 10-month downtrend. The asset's value approached $79,000, with a record $14,833 added to the price.

The rally began from the $63,000 to $66,000 support zone before pushing through the $74,000 to $76,000 resistance band, which may now function as support.

Weekly volume increased alongside the move, while the BBWP volatility indicator expanded from an extreme low to near-maximum levels. However, this volatility signal does not predict direction.

On the daily chart, Bitcoin reclaimed its 200-day moving average near $69,000, a level that had capped advances throughout the downtrend since last October.