Bitcoin Surges Over 20%, Suggesting New Bull Market Cycle

Bitcoin has experienced one of its strongest weekly gains in recent years, surging over 20% from around $62,700 to $79,500. This rally mirrors past major market reversals seen in 2019 and 2023, suggesting a possible new bull market cycle.

Technical indicators such as a near bullish MACD crossover and Bitcoin trading above key moving averages support this positive outlook. However, the high RSI indicates that the asset may face short-term consolidation or pullback after this strong momentum.