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Bitcoin closed above its 50-week moving average for the first time on a weekly basis last week, and $82,500 now marks the top of a previous consolidation range, where holding the level could support further gains, crypto market maker Wintermute said.
Wintermute added that risk assets remained strong last week even as the U.S. 10-year Treasury yield climbed above 5% to its highest level since 2007, with no clear flight to safety observed. The firm also said altcoins were showing broad strength alongside rising BTC dominance, while institutional options markets continued to build low-delta call options and call spread positions expiring at year-end.