Bitcoin breaks key technical resistance at the 50-week moving average, fueling a broader crypto market rally that sees Ethereum and Solana outpace the flagship asset.
Bitcoin closed above its 50-week moving average for the first time in ten months, with price up nearly 6% and open interest rising, signaling potential new bull market.
Ethereum gained 6.05% over seven days, outperforming Bitcoin and benefiting from the broader crypto rally.
Solana rose 10.3% over seven days, showing stronger momentum than Bitcoin and Ethereum in the current rally.
Bitcoin surged to $85,206, marking its first weekly close above the 50-week moving average in ten months. The move signals a potential shift toward a new bull market as open interest climbs 8.8%, suggesting traders are actively adding leverage to the current rally.
Closing above this level is a key technical indicator that often marks a shift in market sentiment from bearish to bullish, suggesting the asset may be entering a new growth cycle.