Bitcoin Surges to 11-Week High on Macro Sentiment Boost

Bitcoin's price has experienced a significant increase over the past few days, reaching an 11-week high of $78,444 on Wednesday.

The cryptocurrency's rise is part of a broader market trend, with equities also experiencing a boost in confidence due to macro sentiment.

According to CoinGlass, Bitcoin's whale orderbook shows that big players are positioning themselves, with a large bid at $75,700 and $217 million in BTC held by these players.

This positioning is significant, as it suggests that investors are anticipating further price growth.

However, the article notes that there is also heavy sell pressure between $78,000 and $80,000, which could potentially limit gains if broken through.