Bitcoin Surges Above $81,000 Amid Macroeconomic Concerns

The Bitcoin price has been on the rise this week, reaching above $81,000 and remaining near that zone for several sessions. The asset's value fluctuated between $78,203 and around $79,000 at certain times, according to market data.

This surge in price has been attributed to macroeconomic concerns over a possible debt crisis in the US, as well as demand for safe-haven assets like gold and Bitcoin. Analysts also note that this increase is supported by new Bitcoin whales recording profits of over $1.2 billion after the price recovery.

CryptoQuant's head of research, Julio Moreno, stated that Bitcoin has entered a bullish phase, with almost all metrics indicating the start of a new bull market. However, Moreno also cautions against a correction due to high levels of unrealized profit, possible selling pressure, and increased BTC inflows to exchanges.