- Bitcoin trades near $74.7K after recent surge past $76K, reclaiming key technical levels supported by strong momentum and rising network activity.
- On-chain data shows higher transactions and fee growth, while whale accumulation and ETF demand continue to support long-term outlook.
- Price faces resistance near 200-day average, with breakout above $75K needed for further gains, while rejection could trigger short-term pullback.
Bitcoin has extended its rise during the past 24 hours, moving up 0.65% to $74,740.84. This gain is a very small price gain, but it follows a big rally earlier this week. The crypto had already risen higher than 5 %, and it hit an intraday high of $76,120. That is its highest level since early February and helped with positive sentiment all over the market.
Recent rallies supported Bitcoin’s recovery to $75,000, a mark that is closely watched by traders. This period is consistent with important technical metrics for the 100-day moving average and simple moving average.
Bitcoin Nears $75000
Bitcoin already reached above the edge of an ascending triangle pattern around $73,000 earlier. Technical formation that can be a sign of uptrend continuation. The recent momentum pushed up the structure, with the price briefly even above $76,000. Momentum indicators also back the move. The Relative Strength Index has reached around 63. This implies an increasing buying pressure, but below extreme levels.
Earlier in February, the RSI had dropped to oversold territory, which set the stage for a recovery.
On-chain data adds another layer to the trend. Bitcoin’s average daily transaction count has increased sharply since the start of the year.
As of late, it has exceeded 765,000 transactions in a single day alone. This is the highest rate of it in about 17 months. The increase shows how people are actively sharing their network, and a new trend of internet use growing. Total transaction fees rose 4 percent over the previous week. Expensive fees are usually a sign that users are willing to pay more to get faster processing. It highlights more demand for block space and further supports underlying market configuration.
Big investors have also been busy. Wallets with 10 to 10,000 Bitcoin that had accumulated millions in the past month are in good shape according to the data. Not to mention, more coins are also being pulled out of the exchanges to a greater extent. This kind of trend removes some of the immediate pressure to sell and can be a great way to stabilize price over time. This is not without its downside but there remains caution.
Bitcoin already maintains its 200-day moving average, or near it, which is long term resistance. The daily RSI is also heading towards 70 today, which means that the crypto is getting ready for over-purchase cycles. The setup makes for a disheartening situation in the short term. A ruling rejection now could push prices back into a pullback to in the $73,000 range. More weakness could lead the price to $65,700, with stronger support. Conversely, a confirmed daily close above $74,967, however, would shift the momentum higher to $76,000 and beyond.
Such uncertainty is reflected in derivative data. This indicates active positioning in the market. The open interest remains elevated. At the same time, funding rates have turned slightly negative. This indicates that leveraged long positions are under pressure, which can increase volatility.
Sentiment indicators show a cautious mood. The Fear and Greed Index remains in the “extreme fear” zone. Such conditions can sometimes lead to sharp reversals if sentiment improves quickly. Market reactions in the coming days will depend on both technical levels and regulatory developments.
The US Securities and Exchange Commission has scheduled a roundtable on April 16, 2026, to discuss the proposed CLARITY Act, which could influence institutional participation and market structure.
