The Bitcoin currency is witnessing a notable rise, having surpassed the $81,000 barrier, supported by increasing institutional demand.
The currency faces resistance at $82,000, and if it breaks through, we may see a new upward wave towards $85,000. On the other hand, there is strong support at $78,000, and breaking it could lead to a decline towards $75,000.
Technical indicators suggest positive momentum, but rising U.S. interest rates may pressure the market. Investors are watching the movements of the U.S. Federal Reserve, making the market susceptible to fluctuations. Bitcoin remains in an upward trend, but caution is required at current levels.
