Why did the price of Bitcoin rise today? Bitcoin is at an important moment. The price is testing significant resistance levels, and surpassing these levels could open the door to the next potential rally. On the weekly Bitcoin chart, Bitcoin is still in a larger bull market. Although there has been a slight slowdown recently, it reflects the pattern observed in 2023. In October of that year, a bullish crossover on the MACD preceded a significant bullish move, likely to repeat itself. MicroStrategy's recent purchase of Bitcoin is one of the main reasons behind the recent price surge of Bitcoin. Led by Michael Saylor, the company continues to bet on the long-term value of Bitcoin. This price surge is also part of a larger trend in the cryptocurrency market, driven by factors such as:

Institutional interest: Major companies and investors are increasingly getting involved in Bitcoin.

Clearer regulations: More and more countries are providing clearer regulations, boosting investor confidence. Positive economic signals: Concerns about global finance are driving people to turn to Bitcoin as a safe asset.

Bitcoin as a reserve currency: More companies view Bitcoin as a valuable asset to hold long-term.

What’s next for Bitcoin?

Looking at the daily chart, Bitcoin has reacted to the 23.6% Fibonacci retracement level. This is an important support level, often seen during correction phases. Although it is possible that Bitcoin's current retracement may have been completed,