Bitcoin Posts Largest Weekly Dollar Gain in History as BTC Reclaims $79K and Breaks 10-Month Downtrend
Bitcoin delivered its largest dollar gain on record last week, surging over twenty-three percent to smash through key technical resistance. The massive move reclaimed the critical 200-day moving average and shattered a ten-month downtrend line. Derivatives positioning has flipped heavily long, though open interest remains below previous cycle peaks.
Bitcoin just notched its biggest weekly dollar gain in history, tacking on nearly fifteen thousand dollars in a single seven-day span. The massive twenty-three percent surge obliterated a ten-month descending trendline originating from the record high, pushing spot prices straight through key resistance into the seventy-nine thousand dollar region.
Crucially, BTC reclaimed its two-hundred-day moving average around sixty-nine thousand dollars, a technical barrier that capped every rally attempt since late last year. The underlying structure has flipped decisively, with the previous seventy-four to seventy-six thousand dollar range now acting as primary support for bulls aiming higher.
Derivatives markets tell an intense story as roughly two point seven billion dollars in short positions were wiped out during the run. Aggregate funding rates flipped to their highest levels of the year as traders aggressively pay up to maintain long exposure. However, open interest near fifty-seven billion dollars remains below previous leverage peaks, leaving room for further expansion before market saturation.