Bitcoin Surges Past $80,000 Amid Hopes for New Bull Cycle

Bitcoin has broken through the $80,000 barrier, sparking hopes of a new bull cycle for both BTC and altcoins. According to CryptoQuant, on-chain data suggests that this rally may continue if certain critical levels are met.

Bullish sentiment is prevailing across market data, but traders are keeping a close eye on key thresholds. For instance, Coinbase shares (COIN) are at a technical inflection point, with its MACD flat and pinned against the upper Bollinger Band, signaling an imminent move up or down - either above $193 or towards $179.

Meanwhile, beneath the surface, AI-crypto financing is showing signs of strain. Riot Platforms has secured a landmark deal worth $9.1 billion with Anthropic, but its bridge loan expires before rental revenue begins, raising questions about the arrangement's near-term viability.

The broader credit market is also experiencing growing concerns, particularly in the semiconductor space, where Broadcom shares have retreated as credit risk climbs around AI chip financing deals, suggesting lenders may be becoming more selective about AI-linked leverage.