Bitcoin Breaks Above $75K as Bullish Momentum Builds

“Bears are feeling the pressure now,” Bitcoin analyst James Check wrote as BTC pushed higher.
Bitcoin reclaimed the $75,000 mark during late U.S. trading Thursday, reaching the level for the first time since late May.
Bitcoin was trading around $75,400, up about 8% over the previous 24 hours. Ether was near $2,376, gaining 4.8%, while XRP led major cryptocurrencies with a 16% jump to $1.29.
As Bitcoin crossed $75,000, Check said the market had moved through different stages of capitulation, describing February as a period of price-driven capitulation and June as a phase of time-based capitulation. He said bears are now facing increasing pressure.
Over the past week, Bitcoin has climbed roughly 19%, while Ether has gained 25% and XRP has surged 28%.