bitcoin has decisively surpassed $76,300 for the first time since its sharp sell-off on February 5, when it fell to a low near $60,000.
BTC is up over 25% and is now trading above its 100-day moving average (100DMA) of $74,774 since bottoming in early February. The two previous tests of this level resulted in rejections and further declines, adding weight to the current bullish movement.
Bitcoin briefly traded as high as $76,700 on February 4 before continuing lower. A subsequent recovery attempt on March 17 also stalled at $76,013, making the current break above $76,300 more notable.
The breakout also has positive implications for Strategy (MSTR), the largest publicly traded bitcoin holder. The company has now returned to making profits on its bitcoin holdings, with an average purchase price of $75,577.
MSTR is also trading above its 200-week moving average, a long-term trend indicator that smoothes price data for approximately four years, and currently stands at $157.53.
Meanwhile, stock markets in general have had a good run. The Nasdaq 100 has risen for twelve consecutive trading sessions, from March 31 to April 16, pushing both the Nasdaq 100 and S&P 500 to new all-time highs.
