Bitcoin has rallied 8.10% since hitting a low of $75,064 on Wednesday, breaking above the yearly moving average of $80,701 for the first time since November 2025. This surge occurred despite a series of bearish catalysts including the Fed raising rates by 25 basis points, the CLARITY Act failing to pass in the Senate, the Bank of Japan raising interest rates, and potential further hikes in 2027. Long-term holder supply has steadily increased since February while short-term holders are exiting, signaling conviction among strong hands. Analysts caution however that trading activity remains subdued compared to previous bull cycles, and upcoming rate hikes along with a rising US dollar index could pose risks for risk-on assets.
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