Bitcoin Surges Above $82,000, Sets Sights on $85,000-$90,000
Bitcoin has broken above $82,000 after a ten-month wait, sparking optimism among traders. The price has risen by +2.2% on the day, according to CoinGecko data.
The move is significant as it marks a weekly close above the 50-week moving average of $78,788 for the first time since November 9, 2025. This level has been seen as a crucial indicator of a bull market, with Galaxy Research's head of firmwide research Alex Thorn stating that reclaiming this level marked a definitive bottom in four out of five completed bear markets.
Ben Simpson from Collective Shift went further, calling the move 'the last thing I need to see' before declaring a bull market. He cited 700%-900% rallies after similar breaks in 2017, 2020, and 2023. The price is now just $1,000 away from a higher high.
Analysts are divided on the outlook, with some predicting a move towards $85,000-$90,000 if the price can hold above $82,588. Others see sideways grinding between $78,845 and $82,956 while the market digests the moving-average signal.