Bitcoin's recent surge has seen it trade above $77,000, a significant milestone for the market. Following a sharp decline in February, Bitcoin is now showing signs of a stronger recovery.
The cryptocurrency has broken above its 100-day moving average, which was previously rejecting price. This breakout is also benefiting Strategy $MSTR, as their average buy price of $75,577 is now back in profit.
Furthermore, MSTR's 200-week moving average is trading above again, a strong long-term signal for the market. The current zone between $76.3K and $77K will be critical in determining future price movements. If Bitcoin holds above this area, more upside can be expected; otherwise, the market may experience short rejection.