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Bitcoin has pushed decisively back above its closely watched 50-week moving average.
The bulls could be on the verge of a potential test of the $82,000-$83,000 resistance zone.
BTC climbed as high as $81,797 on the daily chart before pulling back slightly, with the latest price around $81,400.
This is a daily gain of more than 5% over 24 hours.
Galaxy Research has stated that "all eyes" are currently on the 50-week moving average.
That level has become particularly important because Bitcoin spent much of the past year below it.
The 50-week ceiling
Bitcoin peaked above $124,000 in late 2025 before its unfortunate decline. The subsequent downtrend produced a sequence of lower highs and lower lows. During that decline, the 50-week simple moving average became a major resistance level.
Galaxy Research currently puts it around $81,041.
In fact, Bitcoin already attempted this breakout in late August. It briefly reached $81,265 on Aug. 25 but was rejected around the 50-week average, which was then approximately $81,085.
However, the move appears to be much stronger now. BTC has produced a powerful daily candle through the area. That makes the weekly close especially important.
The 50-week moving average is considered to be the "ceiling" during Bitcoin bear markets. During past bear markets, the weekly close would generally remain beneath the aforementioned level until the bear market was close to ending.
Derivatives markets are adding fuel
CoinGlass data show that the move is occurring alongside extremely heavy derivatives activity.
Bitcoin's 24-hour futures volume stands at roughly $84.74 billion. Open interest has risen to about $57.86 billion.
That is a huge amount of leverage sitting around the market.
Approximately $229.56 million in BTC positions have been liquidated over the past 24 hours, including $214.81 million in short positions versus only $14.74 million in longs.
Dan Burgin
U.Today Editorial Team
