Bitcoin (BTC) has climbed to $62,972, marking a decisive break above the narrow trading range that has confined the asset for much of the past week.
The move represents a significant intraday surge, lifting the price well above the $60,000 support level that has acted as a floor since late June.
Traders are watching whether the price can hold above $63,000, a key psychological barrier that has previously triggered selling pressure.
The rally extends the recovery arc that began after Bitcoin slipped below $60,000 on June 29 and 30. Following a brief pause in the decline around $60,300 on June 28, the asset has gradually regained footing, with this latest jump signaling renewed buying interest at higher levels.
Traders are watching whether the price can hold above $63,000, a key psychological barrier that has previously triggered selling pressure.
The breakout comes as broader crypto markets show signs of stabilizing, with institutional flows beginning to offset earlier ETF outflows that weighed on sentiment.
The move contrasts with the volatility seen in late June, when geopolitical tensions and macro uncertainty drove Bitcoin to multi-month lows.