Bitcoin hits $78K

Bitcoin climbed back above $78,000 this week, breaking out of a weeks-long trading range as traders piled back into riskier assets. (coindesk.com) CoinDesk reported Bitcoin moved past $78,000 on April 22 after President Donald Trump extended the ceasefire with Iran, a geopolitical shift that also lifted other risk assets. CoinGecko’s historical data shows Bitcoin closed at $78,195 on April 22 and $78,261 on April 23. (coindesk.com) (coingecko.com) The move marked Bitcoin’s highest level in about 11 weeks after a stretch of rangebound trading through March and early April. CoinDesk also said the rally came with improving momentum signals after Bitcoin reclaimed its 100-day moving average. (coindesk.com) (coincentral.com) Crypto traders track Bitcoin first because it still sets the tone for the rest of the market: when Bitcoin breaks higher, smaller tokens often follow with bigger percentage swings. Cointelegraph reported analyst Michaël van de Poppe said altcoins could rise 30% to 60% if Bitcoin reaches $86,000. (cointelegraph.com) That target would be roughly 10% above Bitcoin’s quoted price near $77,890 when van de Poppe made the call, according to Cointelegraph. He also said he did not expect Bitcoin to fall below $75,000 in the near term. (cointelegraph.com) Social-media data showed the rally was drawing more attention to Bitcoin than to its closest rivals. Santiment says its social-volume metric tracks mentions across crypto-focused platforms, and posts tied to Bitcoin were reported at about 182,000, ahead of Ethereum at 87,000 and Solana at 72,000 in the material circulating around this move. (santiment.net) (app.santiment.net) That kind of surge in chatter can cut both ways. Santiment’s platform describes social-volume data as a way to gauge crowd attention and sentiment, and crypto analysts often treat sudden spikes in attention as a sign that fear of missing out is building. (santiment.net) (cryptopotato.com) There was another tailwind behind the move besides geopolitics. CoinDesk reported Strategy disclosed its biggest Bitcoin purchase in 17 months, adding a corporate-buying catalyst to the broader risk-on rebound. (coindesk.com) For now, the next numbers traders are watching are familiar round levels: $80,000 as the immediate test and $86,000 as the level tied to a broader altcoin breakout thesis. Bitcoin got back above $78,000, but the market is still split on whether that move starts a sustained run or another short-lived burst of optimism. (coindesk.com) (cointelegraph.com)