Bitcoin started the week on a strong note, reaching as high as $66,500. The big question now is whether this momentum will hold or fade. Over the past seven months, most of Bitcoin’s upward moves have been stopped short at key resistance levels. Most recently, the $65,000 to $66,000 range has posed a significant challenge, with Bitcoin struggling to close above it daily.
Yesterday’s breakout saw Bitcoin briefly rise above a descending trendline, but it’s still uncertain if this movement will result in a solid close above resistance. Traders are watching closely to see if the bulls can secure further gains.
At the same time, Coinbase and mining companies like CleanSpark and IREN posted impressive double-digit gains with Bitcoin.
Meanwhile, the memecoin ‘supercycle’ shows no signs of slowing down, with venture capital firms and institutional players eyeing the opportunity to cash in.
