Bitcoin climbed decisively above the $78,000 level, marking its first clear breakout since the sharp market decline on Feb. 5 that drove prices down to nearly $60,000. BTC also moved firmly above its 100-day moving average of $74,774, a technical milestone widely viewed by traders as confirmation of renewed bullish momentum.
Since bottoming in early February, Bitcoin has rallied more than 25%, reversing earlier weakness that followed repeated failures to hold gains above the mid-$76,000 range. Earlier attempts to reclaim higher levels stalled at $76,700 on Feb. 4 and again at $76,013 on March 17, making the current move above $76,300 a more significant technical breakout.
Strategy Returns to Profit as Stock Surges
The rally has had direct implications for Strategy, the largest publicly traded corporate holder of Bitcoin. Shares of the company rose about 8%, while its Bitcoin holdings moved back into profit territory. The firm’s average Bitcoin purchase price stands at $75,577, meaning current market levels now exceed its cost basis.
Strategy also moved above its 200-week moving average, a long-term trend indicator covering roughly four years of price activity. This marks the first time the company has reclaimed this level since February, suggesting strengthening long-term sentiment toward both Bitcoin and crypto-linked equities.
Disclaimer
This content is for informational purposes only and does not constitute financial, investment, or legal advice. Cryptocurrency trading involves risk and may result in financial loss.
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