Bitcoin has advanced about 15% since Monday, breaking back above several important technical and on-chain thresholds as buying momentum strengthens.
BTC climbed toward $72,000 during Thursday’s European trading session, gaining more than 3.5% in the past 24 hours and roughly 15% since the start of the week.
The rally has been supported by several catalysts, beginning with Treasury Secretary Scott Bessent’s decision to expand US Treasury debt buybacks. Sentiment received another boost after President Donald Trump called on Congress to advance the Clarity Act during a White House meeting with crypto industry leaders.
Crypto-related stocks have followed Bitcoin higher. Strategy (MSTR), the largest publicly traded corporate Bitcoin holder, rose 13% Wednesday and added another 10% in premarket trading Thursday.
Bullish (BLSH), the crypto exchange group and parent of CoinDesk, climbed more than 9% Wednesday and gained another 5% before the US market opened.
Bitcoin miner MARA Holdings (MARA) and crypto exchange Coinbase (COIN) were also higher in premarket trading after both recorded strong gains Wednesday.
BTC Reclaims Key Technical Levels
Bitcoin’s move above $71,000 has also pushed the cryptocurrency back above several key on-chain and technical benchmarks, according to Checkonchain data.
The short-term holder cost basis, currently around $67,138, is one such level. It represents the average purchase price of Bitcoin held for less than 155 days.
When BTC trades above this threshold, recent buyers are generally sitting on unrealized profits, which can improve market confidence and encourage greater risk-taking.
Bitcoin has also moved above its 200-day simple moving average, currently around $68,969. The indicator tracks the average BTC closing price over the previous 200 days and is widely viewed as a measure of the asset’s longer-term trend.
The next major resistance level is the True Market Mean near $75,689. The metric removes lost coins and supply that has remained dormant for extended periods to estimate the cost basis of active market participants.
If Bitcoin can establish a sustained position above the True Market Mean, the average active investor would move into unrealized profit. Such a breakout could strengthen the case for a broader shift toward a bullish market structure.
