Bitcoin Soars Above $81K as Momentum Indicators Suggest Bulls Are Back
Bitcoin's recovery continued on Monday, with prices climbing above $81,300 after a strong weekly gain of over 5%. Ethereum and XRP also rose, reaching $2,600 and holding above the key $1.40 level respectively.
The rally has led to an early bullish shift in momentum indicators for all three cryptocurrencies, suggesting buyers may push prices higher in the near term.
Bitcoin's reclaiming of the True Market Mean, currently estimated at $76,660, is a significant development, as it signals that recent buyers are collectively holding unrealized profits and strengthening short-term sentiment.
The next potential obstacles for Bitcoin are the average purchase prices of corporate treasury holders and US spot exchange-traded fund investors, with levels sitting around $80,421 and $85,638 respectively.