Bitcoin is trading above its 50-week moving average following a strong daily advance, with the price reaching $81,797 before settling around $81,400. The cryptocurrency now faces resistance in the $82,000 to $83,000 zone, with $82,814 identified as a decisive technical level for the weekly structure.
A weekly close above $82,814 would create Bitcoin's first higher high since the recent decline began and confirm strength above the long-term average. This move would challenge the sequence of lower highs and lower lows that has characterized the recent downtrend. The 50-week moving average, currently near $81,041, had served as resistance during much of the past year before Bitcoin broke through on this latest advance.
An earlier breakout attempt failed near this level on August 25, when Bitcoin reached $81,265 while the average stood near $81,085. The current move shows stronger momentum, though price action through the weekly close will determine whether buyers can sustain the recovery.
The wider cryptocurrency market has responded to Bitcoin's advance. Bitcoin gained nearly 6% during the move above $81,800, while Ethereum, BNB, and Cardano also recorded gains during the session.
Derivatives Market Activity Intensifies
Bitcoin futures volume reached approximately $84.74 billion over 24 hours, while open interest climbed to about $57.86 billion. The rise in open interest indicates that leveraged exposure increased alongside the price advance.
Liquidations across Bitcoin positions totaled approximately $229.56 million during the same period. Short positions accounted for $214.81 million of those liquidations, compared with $14.74 million in long liquidations. The imbalance reflects that bearish traders absorbed most of the forced losses during the rally, as short-covering pressure added demand to the advance.
The next technical test centers on the $82,000 to $83,000 resistance band and the $82,814 level specifically. Market participants will monitor whether spot buying can sustain the move and whether new leveraged exposure follows the breakout or existing positions begin to unwind.
