Bitcoin Breaks Strategy's Average Purchase Price...Bear Market Declared Over

▲ Strategy (MSTR), Bitcoin (BTC)/ChatGPT generated image

Bitcoin (BTC) completed a strong V-shaped rebound, breaking through the psychological resistance level of $75,000 and even surpassing Strategy's average purchase price.

According to cryptocurrency media U.Today on April 14 (local time), Bitcoin staged a record-breaking rally, breaking the $75,000 mark for the first time since mid-March. In particular, Bitcoin successfully reclaimed $75,577, the average acquisition price of the holdings held by Strategy. Strategy had announced an additional purchase of $1 billion worth of Bitcoin just one day prior. With this price surge, even large institutional investors have entered a profit zone, further increasing market confidence.

Bitcoin is showing a strong recovery after weeks of harsh corrections. After encountering resistance near $76,000 in mid-March, the market had once fallen back to the $65,000 support level. However, buying forces regained control in April, completely breaking out of a month-long consolidation period. Currently, Bitcoin is trading around $75,500, forming a new price range.

On-chain analyst Willy Woo diagnosed that the network's fundamentals are rapidly improving. He pointed to $80,000 as Bitcoin's next major test. The market has now fully recovered from the massive liquidation shock in the derivatives market that occurred at the end of last year. In particular, the attempt at a rebound in the futures market, coupled with very stable spot buying, is interpreted as a positive sign.

Market experts evaluated this breakthrough by Bitcoin as a signal of a long-term trend reversal beyond a mere short-term rebound. As large institutions like Strategy begin to make profits, expectations for additional institutional fund inflows are also growing. If Bitcoin firmly establishes the $75,000 level as a support, its journey towards breaking historical highs is expected to accelerate further.

As Bitcoin moves towards its next gateway of $80,000, the overall cryptocurrency market is also revitalized. Willy Woo analyzed that the robustness of the spot market is sufficiently overcoming the volatility of the derivatives market. Investors are carefully formulating their response strategies, keeping a close eye on whether Bitcoin breaks its resistance level and the further actions of whales like Strategy.

*Disclaimer: This article is for investment reference only and we are not responsible for any investment losses based on it. The content should be interpreted for informational purposes only.*