Bitcoin Surges Past $72,500, Up 4% on the Day, Momentum May Accelerate Further

Bitcoin broke through $72,500 on March 13, with a daily gain of approximately 4%, successfully rebounding from a low of $65,900 on March 9, which marked the most severe phase of the recent correction. This surge is noteworthy not only for its magnitude but also for the change in technical structure. Analyst GainMuse pointed out that the market has shifted from a correction phase to a trending upward movement, with buyers dominating the overall market trend for the first time, especially since the highs in February.

During the rebound, buyer volume has consistently increased, with the most recent volume reaching 1.54K BTC, a strong reading over the past two weeks. The process of rebounding from $65,900 to $72,612, with a gain of approximately 10.2% in four days, reflects genuine demand absorption rather than just a slow mean reversion. Shift from Correction to Recovery Cryptocurrency trader GainMuse released a macro chart analysis of BTC/USDT, arguing that the current price movement is a structural shift rather than a temporary rebound. The chart highlights the local descending channel that began from the February high, as well as the triangular pattern formed near the $65,900 low. As selling pressure weakened, the price entered a compression zone after the recovery began. GainMuse's key observation is that Bitcoin has transitioned from a corrective descending wedge to a stable recovery phase and is maintaining well on the rising support trajectory. The latest consolidation breakout shows that buyers have dominated the overall trend direction.

Source: https://t.me/gainmuse/1950 The compression zone pointed out by GainMuse is located below the current price. The analyst believes that breaking through its upper limit is a structural signal that turns the picture from recovery to potential expansion. If the price breaks through the upper limit of the compression, which is in the $72,000 to $73,000 range, it will open the door for continued gains. GainMuse's time frame shows this trend pointing to higher targets. The analyst set specific risk conditions in the bullish scenario: failure to maintain momentum on the trend support could trigger a short-term pullback, falling back to the previous structural demand area, which corresponds to the $69,500 to $70,000 range on the two-hour chart, the support level for most of March 12. Macro Background Driving the Move XRP is up 5% on the day but faces a compression zone that will determine its next major move. According to yesterday's market data, the 50-day simple moving average is at $72,748, above the current price, representing an immediate technical upper limit that bulls need to break through to confirm that the recovery has entered a new phase. Bitcoin is close but has not yet closed a daily candle at that level. GainMuse's compression upper limit and the 50-day SMA converge in the same price area, meaning 72,