Bitcoin Surges Past $75,000 as Crypto Rally Continues

Crypto prices are rising sharply, with Bitcoin retaking the $75,000 level for the first time since late May in US trading. The move leaves Bitcoin up 8% over the past 24 hours, while Ether and XRP also post strong gains.

Over the past seven days, Bitcoin has surged by 19%, while Ether and XRP have risen by 25% and 28% respectively. This broad sector strength is putting pressure on bearish positions, with analysts noting a shift from 'price pain' to ongoing 'time pain' for bears.

Bitcoin analyst James Check notes that the market has moved from 'price pain capitulation in February' to 'time pain capitulation in June', adding that 'bears [are] in pain, right now.'