Bitcoin has decisively surpassed $76,300 for the first time since its heavy 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 its lowest level in early February. The previous two tests of this level resulted in rejections and further declines, adding weight to the current uptrend.
Bitcoin briefly traded as high as $76,700 on February 4 before continuing to decline. A subsequent recovery attempt on March 17 also stalled at $76,013, making the current break above $76,300 more notable.
This breakout also has positive implications for Strategy (MSTR), the largest publicly traded holder of Bitcoin. The company has now returned to profit 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 smooths price data over roughly four years, and currently stands at $157.53, up more than 6% the day after the market opened.
At the same time, equity markets as a whole experienced strong growth. The Nasdaq 100 rose for twelve consecutive trading sessions from March 31 to April 16, pushing the Nasdaq 100 and S&P 500 to new all-time highs.
