Bitcoin (BTC) has surged over 16% in the past two weeks, breaking a significant six-month resistance level. The cryptocurrency is currently trading near $77,476, marking a 2.78% increase in the last 24 hours. This breakout follows a move beyond the $64,000 to $75,000 range, with whales accumulating over 10,000 BTC, valued at approximately $750 million, near the 100-day simple moving average. The recent price action has shifted market sentiment, with traders closely monitoring Bitcoin's approach to the 127.2% Fibonacci extension near $79,078. A strong move above this level could signal further upside momentum. However, maintaining support above $75,000 is crucial to sustain the current breakout. Futures market data indicates significant long positions, creating potential liquidation zones at $70,000, $65,000, and $57,000, which could act as downside targets if momentum falters.
Bitcoin Surges 16%, Breaks Six-Month Resistance Amid Whale Accumulation
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