Bitcoin Tackles Resistance at $82.9K After Outperforming Nasdaq by 42% in Three Months

Bitcoin is testing resistance at $82.9K after outperforming the Nasdaq by 42% over the past three months.

The cryptocurrency's price has been steadily increasing, reaching a weekly close above its 50-week moving average, which sits near $78,800.

CrypNuevo notes that Bitcoin needs to break above $82.9K to potentially expose $89.3K, but liquidation data shows elevated long-squeeze risk, keeping downside risk open.

Bitcoin's price has held above its recent macro low and the 50-week moving average, which is a key technical signal for analysts.