Bitcoin Surges Past $100K with Bullish Signs: 7D SMA Reaches New High

A significant bullish signal has emerged in the Bitcoin market, prompting analysts to speculate on the cryptocurrency’s potential for further growth. Recent data from Glassnode suggests that Bitcoin demand has surged recently, exceeding key levels and pushing its price past $100,000 for the first time since January. This surge is attributed to strong buying pressure across major exchanges as evidenced by a recent 7D SMA metric hitting a local high of $5 billion. The positive change in this index signifies increased net buyer demand, highlighting real-world market conviction.