Bitcoin updates six-week high

Bitcoin BTC $73,689.49 Mezo Wrapped BTC 0.46% Market capitalization $41.39 million VOL. 24 hours $2.14 billion has risen to its highest level in six weeks, touching $ 76,000 on Coinbase during morning trading on March 17. This happened on the back of a market rebound that added about 9% to the asset over the week. At the time of publication, the price has dropped to $ 74,300, but analysts are already talking about a possible move to $ 80,000.

The key technical signal was a daily close above $ 74,500, a level that coincided with the April 2025 low. The Sykodelic analyst called it a sign that the market is ready to move higher. According to him, holding the price at current levels could quickly open the way to $ 80,000, while a return below $ 72,000 would again increase downside risks.

Other experts also see positive signs. Analyst Colin said that «the breakout has already begun» and estimated the upper limit of the current rebound at $ 80,600, with a wider range of $ 79,000−86,000. CryptoQuant’s Julio Moreno pointed out that the Inter-Exchange Flow Pulse indicator has moved into a bullish zone, which has often signaled a change in market structure after periods of low liquidity.

Traders are also keeping an eye on the $ 83,000−84,000 level, where the Bull Market Support band and the open CME gap coincide. An analyst at Daan Crypto Trades noted that this range could be the next key area. At the same time, the 200-week EMA remains a support around $ 68,000. Rekt Capital added that bitcoin is showing unusual behavior in its history, trying to gain a foothold above this level.

BTC’s growth supported the broader crypto market. Ethereum rose by more than 8% on the day to $ 2380 and added about 17% over the week. XRP, Cardano, Stellar, and Zcash also showed positive dynamics. The total capitalization of the crypto market reached $ 2.65 trillion, the highest level since February 4.