Bitcoin Adds $416 Billion in Nine Weeks as Bullish MACD Signal Returns

Bitcoin continues to show strength on multiple fronts. BTC’s market capitalisation has grown by $416 billion in about nine weeks, with the price trading around $77.500. Meanwhile, the two-weekly MACD has printed a bullish cross, a technical signal that appeared around major cycle bottoms in previous cycles. Ethereum is also joining in, breaking back above $2.500.

Bitcoin market cap grows rapidly

The current market capitalisation of Bitcoin is around $1.57 trillion. The accompanying chart shows that roughly $416 billion has been added in just nine weeks.

This rise is all the more striking when compared with previous market phases. Around the 2022 bottom, the entire market capitalisation of Bitcoin was still roughly $300 billion. The recent increase alone is therefore larger than the total Bitcoin market cap at that time.

The price, meanwhile, is moving around $77.500. That keeps Bitcoin close to the recent local highs following the sharp rally from the low $60.000 region.

Bullish MACD cross draws attention

On the two-weekly chart, a bullish cross has also appeared on the MACD. This occurs when the shorter momentum line crosses above the signal line, often seen as a sign that downward momentum is fading and upward strength is building.

According to crypto analyst Quinten François, the previous two similar signals appeared around major cycle bottoms.

That makes the current signal interesting, but not decisive. Technical indicators can take the same shape without the market following the exact same path. A MACD cross does not confirm a bottom, but it does show that momentum is clearly improving.

Ethereum breaks through $2.500

The wider cryptocurrency market is also benefiting. Ethereum has pushed above the $2.500 mark and is trading at around $2.500,60 on the accompanying chart.

The recent moves in Bitcoin and Ethereum show that the recovery is broadening. Bitcoin is adding hundreds of billions to its market cap, while Ethereum is reclaiming key price levels.

For bulls, it is above all the combination that stands out: rising market cap, strong price action and a bullish momentum signal on the longer timeframe. At the same time, caution remains necessary, because previous rallies in bear markets could also be extremely powerful for a time.