Crypto
Bitcoin Hits 3.5-Year High on 26% Weekly Surge
Bitcoin's price surged by 26% over the past week, reaching a level not seen in 3.5 years. The cryptocurrency climbed from $62,751 to $79,500, marking its largest weekly increase since early 2021.
The recent price jump has raised eyebrows among traders and analysts, with some taking note of the bullish structure that is currently in place. The Bollinger band, 50-EMA, and 200-EMA are all supporting the upward trend, while the RSI remains neutral and MACD shows a death cross.
The current price of $77,498.84 is within the upper resistance range of $79,313.28. While some may see this as a sign of near-term consolidation before continuation, others may be cautious given the recent volatility in the market.