Bitcoin surged to a two-month peak near $78,000 on Friday, extending a broader rebound fueled by calmer geopolitical conditions and stronger investor confidence across risk assets. Bitcoin was trading around $77,162, up more than 3% over the previous 24 hours, according to the provided market report.
The move comes as easing tension s in the Middle East helped reduce pressure on oil prices, with crude slipping below $100 a barrel. Lower energy prices often improve market sentiment by easing inflation concerns and reducing expectations for tighter monetary policy. That shift appeared to benefit equities and digital assets alike.
The broader crypto market also strengthened, with total market capitalization rising 2.73% to $2.61 trillion, according to CoinMarketCap figures cited in the report.
Ethereum gained 3.55% to $2,411, while major altcoins including XRP, BNB, Solana, Dogecoin and Cardano also moved higher.
Over the past week, Bitcoin gained nearly 6%, while Ethereum rose about 7.8%, suggesting momentum has been building rather than emerging from a single-day spike.
Analysts Watch $79K Resistance For Breakout Toward $84K
Piyush Walke, derivatives research analyst at Delta Exchange, said Bitcoin’s next major technical resistance sits near $79,000.
According to Walke, a decisive breakout above that level could clear the path toward $84,000, which would mark another meaningful leg higher in the current rally.
Technical traders often watch resistance zones where prior sellers emerged. If price breaks above those levels with strong volume, momentum strategies can accelerate upside moves.
Walke also noted that Ethereum is trading close to its 100-day exponential moving average, a commonly watched technical indicator. Continued inflows into spot Ethereum ETFs were cited as a supportive factor.
Meanwhile, XRP was described as holding above the $1.44 support zone with a bullish MACD signal, indicating improving trend momentum.
The combination of technical breakouts and institutional flows has become a key theme in crypto markets, where chart signals and ETF demand increasingly move together.
ETF Inflows And Regulation Add To Positive Outlook
The report said institutional demand remains a major driver of current market strength. BlackRock’s Bitcoin ETF reportedly recorded inflows of more than $817 million, underlining continued appetite from traditional investors.
The WazirX Markets Desk said progress on the U.S. Crypto Clarity Bill and South Korea’s openness toward stablecoins pointed to a more mature regulatory environment.
Such developments matter because clearer rules can attract capital that previously stayed on the sidelines.
For now, Bitcoin remains below the key $79,000 breakout line. But with improving macro sentiment, strong ETF demand and broad altcoin participation, bulls appear to have regained near-term control.
If resistance breaks, the next test may come at $84,000. If it fails, traders may look for consolidation before another attempt.