Bitcoin ($BTC) has recently shown a resilient comeback with a noteworthy price upsurge. In this respect, Bitcoin ($BTC) has reclaimed $78,000 after Iran announced the opening of the Strait of Hormuz. Bitcoin has jumped by over 16% within the last 2 weeks, especially after the announcement of a 15-day cease fire. The flagship crypto asset has also surpassed its 100-day simple moving average (SMA), signifying the 3rd key test since the end of 2025. Thus, Bitcoin ($BTC) has finally climbed above the resistance that had reportedly capped the momentum for 6 months.
Bitcoin Breaks above 100-Day SMA, Indicating 2-Week Surge of 16%
Based on the market data, Bitcoin ($BTC) has officially surged above its 100-day SMA while recording a 16% increase in 2 weeks. The development underscores a crucial move since 2025’s last days. Former encounters with the respective levels of January and October led to sheer corrections of up to 39% and 30%. However, now, the flagship cryptocurrency seems to be experiencing the same barrier. Hence, this signals a likely shift in the wider market sentiment.
At the same time, it also dismisses the rejection pattern responsible for dictating Bitcoin’s recent market cycles. The latest data suggests that Bitcoin ($BTC) is now changing hands at $77,588.93. This indicates a 4.37% increase in price over the past 24 hours. In addition to this, the monthly price trajectory of $BTC highlights an 8.25% jump. At the same time, Bitcoin’s market cap stands at a 4.32% spike, accounting for $1.55T. Additionally, the 24-hour volume of $BTC sits at $54.7B, highlighting a total surge of up to 31.66%.
Flagship Cryptocurrency Looks for 200-Day SMA Breakout
Along with that, the Bitcoin ($BTC) whales have accumulated over 10,000 $BTC, equaling $750M. The respective large-scale accumulation presents confidence in the $BTC rally’s sustainability, specifically as Bitcoin endeavors to develop a stronger foundation above its notable moving averages. Keeping this in view, the next target for Bitcoin could be its 200-day SMA, as the traders are closely watching it for the long-term bullish trajectory’s confirmation. Overall, $BTC could be on a path for a considerable upsurge toward next resistance levels, likely reshaping broader investor sentiment.