Bitcoin reached $10,333 on Monday and momentum remained strong. At the time of writing, the currency was trading near $10,280, up more than 6% on the day. The jump ended weeks of failed attempts to b
Bitcoin reached $10,333 on Monday and momentum remained strong. At the time of writing, the currency was trading near $10,280, up more than 6% on the day.
The jump ended weeks of failed attempts to break through the $9,500 resistance. Once Bitcoin cleared the $9,000-$9,400 range for the first time in weeks, upside felt inevitable. Buyers established firm support above $9,500, and the ranging between $9,600 and $9,900 over the weekend kept pressure building. The breakthrough came Monday, with Bitcoin reaching $10,333.
The 6% daily move opens the door to $11,000-$12,000 in the near term.
Gold has climbed to record levels near $1,950, though growing tensions between the US and China could cap further upside.
Glassnode researchers spotted something notable at these new price levels. Previous attempts to break through $10k had sparked selling waves among hodlers. The firm's Bitcoin Days Destroyed metric, which tracks how many coins move in transactions relative to how long they were dormant, had spiked whenever Bitcoin approached the five-figure mark in recent attempts.
The latest push through $10k broke that pattern. When Bitcoin crossed above $10k last week, the BDD spike failed to materialize. Hodlers did not cash out.
The technical picture supports continued strength. Bitcoin tested $10,147 before retreating to $9,964, yet buyers quickly reclaimed the $10k level and pushed to $10,306 by press time. The RSI holds above 70 without bearish divergence. The MACD is printing bullish divergence.
Five-figure support is the key level. If buyers hold it, Bitcoin can climb to a series of higher highs with rising lows, powered by institutional buying and expanding volatility. A breakdown would target $9,600 and the 50-day moving average at $9,358. The bull case looks likely to prevail.
