Bitcoin has made a significant breakthrough, surpassing the $30,000 resistance level once again. Market analysts like CredibleCrypto are now considering the potential implications of higher resistance levels, such as $35,000 or $37,000.

With Bitcoin’s price now above $30,500 and a substantial 24-hour trading volume of $15.4 billion according to CoinGecko data, the global cryptocurrency market capitalization has witnessed gains. Investors are closely watching for a monthly close above this crucial point to confirm bullish momentum.

On the BTC/USDT weekly chart and according to CryptoQuant data, there has been a decrease in Bitcoin Exchange Reserves, coupled with an increase in long position traders. This indicates a reduction in selling pressure and suggests a positive trajectory for the market.

Additionally, prominent crypto influencer @CryptoGodJohn has suggested that the ongoing Bitcoin trend may not experience significant price dips or lower-level retests, contrary to what many had anticipated.

Companies heavily invested in Bitcoin, such as MicroStrategy, Marathon, and Coinbase (NASDAQ:COIN), have seen improved positions due to the cryptocurrency’s price surge. For instance, MicroStrategy currently holds 158,245 Bitcoins valued at approximately $4.5 billion. According to Bitcoin Treasuries data, it boasts a NgU (Number Go Up) ratio of 1.03x, indicating profitability amid the recovering Bitcoin market.