Bitcoin has made significant gains in recent days, trading above $75,000 ahead of crucial macroeconomic data releases from the Federal Reserve. This increase marks a break-through of a key resistance zone that analysts had identified as a near-term ceiling.
The world's largest cryptocurrency is currently up by about 3.5% over the past 24 hours, with CoinGecko data showing its price at $75,300. This surge has been driven in part by geopolitical tensions, which have pushed oil prices higher and prompted investors to reassess risk assets.
Investors are closely watching the upcoming data releases, including the February producer price index (PPI) data due on Wednesday and the Federal Reserve's interest-rate decision. These announcements will provide insight into inflation and interest rates, which could influence Bitcoin's price movement.