Bitcoin Tops $76K as Whales Add 270,000 BTC

Bitcoin climbed above $76,000 on Friday after Iran’s foreign minister stated the Strait of Hormuz would remain open for the remainder of the ceasefire. Prices later extended above $78,000. On-chain data from analytics firm CryptoQuant show wallets holding more than 1,000 BTC accumulated roughly 270,000 coins over the past 30 days, the largest such accumulation since 2013. The 20-day exponential moving average stood near $72,136 and the relative strength index approached overbought levels.

A close above $76,000 would complete a bullish ascending-triangle pattern and could open a path to $84,000 and then a pattern target near $92,000. Analysts flagged specific resistance levels to watch. Glassnode’s Week Onchain newsletter cautioned the recovery may face selling pressure at the True Market Mean of $78,100 and that holding above that level on a mid-term basis would be required to create a structural shift toward a bull market. Material Indicators noted that a sustained bull market would require a move above the yearly open at $87,500, the 50-week moving average near $97,000, and a weekly relative strength index closing above 41.

Ethereum found support at its 20-day EMA around $2,235 and tested resistance near $2,415. A daily close above $2,415 could extend gains to $2,800 and then $3,050, while a sharp drop below the moving averages would invalidate the near-term bullish view.

XRP closed above its 50-day simple moving average near $1.38 and faces the downtrend line of a descending channel. A decisive break above that downtrend line would point to a potential trend change, whereas a loss of moving-average support could send XRP back toward $1.27.

BNB recovered above its 50-day SMA near $626 and may target $687, with further levels at $730 and $790 if upward momentum continues. Solana’s close above its moving averages put initial resistance at $98, with a clear break and close above $98 likely to open a path to $117. Dogecoin rose toward $0.10 and, if the level holds, could test $0.11 and $0.12; a fall below the moving averages would risk a slide to $0.09.

Several smaller tokens showed momentum. Hyperliquid remained above the $43.76 breakout level, with an immediate hurdle at $46 and potential targets near $50 to $51.43. Cardano is testing a downtrend line and could reach $0.32 and $0.37 on a sustained push. Bitcoin Cash pierced its 20-day EMA near $447 but faces selling at the 50-day SMA around $454; a break above that level could lift BCH toward $486 and $520, while a decline below $443 would put $419 in focus. Chainlink is testing an $8 to $10 supply zone; a daily close above $10 would open the path to about $11.61.

On-chain accumulation by large holders and price advances across major tokens were recorded in recent market data, and market analysts highlighted the resistance levels that would need to be cleared for longer-term confirmation.