Bitcoin has decisively broken back above its 50-week moving average, currently around $81,041, after climbing as high as $81,797 before pulling back slightly to $81,400, representing a gain of more than 5% over 24 hours. Galaxy Research emphasizes the significance of this breakout, as Bitcoin spent much of the past year below this moving average, which had become a major resistance level. The next resistance zone lies between $82,000 and $83,000. This breakthrough appears stronger than the previous attempt in late August, when Bitcoin was rejected around $81,265. Derivatives markets are extremely active with $84.74 billion in 24-hour futures volume, $57.86 billion in open interest, and $229.56 million in liquidations, of which $214.81 million were short positions.
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