Bitcoin broke above the critical $72,000 resistance level with strong volume, a move technical analysts say could pave the way for a run toward $100,000. The cryptocurrency gained 12% this week alone.
The breakout coincides with record inflows into spot Bitcoin ETFs, with over $500 million entering the products in the past week. Institutional adoption continues to accelerate as major asset managers add crypto exposure.
On-chain metrics support the bullish case, with long-term holder supply reaching new highs and exchange reserves at multi-year lows. The halving event, expected in April, adds another bullish catalyst.