Bitcoin Bulls Eye Bull Market as BTC Surges Past $81,000

Bitcoin demonstrated its resilience in the face of adversity when it briefly dropped to $75,000 mid-week due to a setback on the CLARITY Act and rate hikes from the Fed and BOJ. However, the bulls regained control, pushing the price above $81,000 for a two-week peak on Friday, which it maintained into Saturday.

This move led to significant gains in the crypto market cap, with approximately $150 billion added to the total market value.

Some analysts are now flagging the potential start of a bull market if this breakout sustains. However, there is no indication that this will happen if Bitcoin fails to close above a certain key level by the end of the week.