Bitcoin tops $84,000, highest level since January

Bitcoin continued its strong gains, surpassing the $84,000 level during trading today to record its highest level since late January, supported by improved investor appetite for digital assets and the sustained positive momentum that dominated the market last week.

The latest gains came after Bitcoin rose by more than 5% last week, while Ethereum climbed over 6% to exceed the $2,600 mark. Meanwhile, XRP maintained trading above the $1.40 level following weekly gains of more than 5%, reflecting a broad-based improvement in the performance of the cryptocurrency market.

Additionally, Bitcoin’s earlier breakout above the $81,000 level allowed it to reclaim what is known as the “True Market Mean,” an indicator derived from blockchain data used to measure the average purchase cost of active market participants.

This indicator is currently estimated at approximately $76,660. Trading above this level is seen as evidence that a significant portion of investors are holding unrealized gains, which tends to support positive sentiment and increase the likelihood of a continued upward trend.

Analysts believe that Bitcoin’s ability to hold above current levels could pave the way for testing higher levels in the coming period, with investors closely monitoring movements near the $85,000 threshold, considered one of the key short-term resistance levels.