Bitcoin Surges Past $81K as Crypto Stocks Rally on CFTC Rule Advances
Bitcoin has broken through the $81K barrier, trading at $80,879.73 as crypto stocks rally across the board.
The price surge is attributed to the Commodity Futures Trading Commission (CFTC) advancing two new rules for the crypto market, which have been sent to the White House for review.
As a result, several prominent crypto stocks are seeing significant gains, with MicroStrategy (MSTR) surging 13%, Coinbase Global (COIN) gaining 11.5%, and other top performers like Cricut (CRCL) and Benchmark Electronics (BMNR) climbing 8% and 7% respectively.
Despite the current price being near the upper Bollinger resistance of $79,849.87, analysts believe a healthy retracement to the 50-EMA support at $77,481.57 is probable before further continuation in Bitcoin's price prediction models.