Bitcoin price crosses $77,000 after breakout, experts eye $80k next amid global boost

Bitcoin price crossed $77,000, which is the first time it reached this level since February 3rd. This rise shows that people who already own assets like Bitcoin are making profits in the current market, as posted by The Kobeissi Letter on X.

Bitcoin made a strong comeback after falling sharply in early February when prices dropped close to $60,000, as per Binance. The price has now moved above its 100-day moving average near $74,800, which earlier blocked price growth two times in February and March. This breakout shows buyers (bulls) are slowly taking control again after months of slow movement.

Bitcoin company profit jump

The company Strategy is now back in profit on its Bitcoin holdings after this price rise. Strategy holds around 780,897 btc with an average buying price of about $75,577. Because Bitcoin is now above $77,000, Strategy is sitting on a paper profit of more than $270 million. Shares of Strategy jumped nearly 8% as investors reacted positively to Bitcoin’s rise. Strategy’s stock also moved above its 200-week moving average for the first time since February, which is seen as a strong long-term signal.

Crypto stocks go up

Other crypto-related companies like Coinbase and Robinhood also saw their stocks go up. Bitcoin earlier struggled to go above the $76,000–$76,300 range, but now it has broken past that level, as cited by Binance. This breakout may force short sellers (people betting price will fall) to exit their positions quickly. New traders who follow market momentum are also coming back in after this move.

Bitcoin next target $80K

Experts are now watching the next big level near $80,000 as the next target. A strong move above current levels could signal the end of Bitcoin’s downtrend from the past few months. The btc price jump also came after positive global news about the Strait of Hormuz reopening during a ceasefire, as stated by Bitcoin Magazine. Iran confirmed that the Strait of Hormuz is open for commercial ships during the ceasefire period. This decision is linked to a 10-day ceasefire between Israel and Hezbollah in Lebanon.

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Global news boosts Bitcoin

Donald Trump supported this news and posted that the Strait is fully open for passage. The U.S. government said a possible deal with Iran could happen soon, which improved market confidence. Oil prices dropped after the risk of conflict reduced, which helped boost risk assets like Bitcoin and stocks. Bitcoin moved back toward the $76,000–$78,000 range, which had stopped price rallies earlier.

There are many sell orders in this range, making it a tough resistance zone. Market data shows many traders are still betting against Bitcoin, as short positions remain high. This setup increases chances of a “short squeeze,” where prices rise fast as short sellers rush to exit. Price movements have been very volatile, with quick jumps and drops around the $76,000 level, as noted by Bitcoin Magazine. Market sentiment is still weak, with many investors feeling fear due to the earlier crash.

Market risk and future outlook

Many Bitcoin holders are still near their buying price, so they sell when price rises, creating resistance. Buying demand is currently coming more from offshore exchanges and smaller investors, while big U.S. investors remain cautious. Bitcoin miners are still selling coins regularly to cover costs, adding more supply during rallies. The future direction now depends on global events like the ceasefire and Iran talks staying stable.

If positive news continues, Bitcoin could break strongly above $77,000 and push higher. If tensions rise again or oil prices jump, Bitcoin could fall back toward the low $70,000 range, as noted by Bitcoin Magazine. At the latest update, Bitcoin price had slightly pulled back to around $76,000 after touching above $77,000.

FAQs

Q1. Why did Bitcoin cross $77,000?

Bitcoin went up due to strong buying, positive global news, and traders expecting prices to rise more.

Q2. Can Bitcoin reach $80,000 next?

Experts say Bitcoin may move toward $80,000 if the current upward trend continues and market conditions stay positive.