Bitcoin closed out a strong week on Wednesday, reaching an intraday peak of $81,714 on May 5 and booking a 7% gain over the past seven days. The rally pushed the asset's total market capitalization to $1.63 trillion — a level not seen since early March.
Support holds above $81,500
Throughout the run, Bitcoin maintained support above $81,500, a key psychological level that traders had been watching since the previous month's consolidation. The ability to hold that floor after multiple tests suggests buying pressure remains steady, even as short-term profit-taking briefly nudged prices lower.
Market cap jump adds $100 billion
The 7% weekly surge added roughly $100 billion to Bitcoin's market cap, bringing it back above the $1.6 trillion mark. That places the asset's valuation well ahead of most major equities and commodities on a year-to-date basis. The gain came without a single dominant catalyst — no major exchange listing or regulatory event — which some market participants read as a sign of organic demand.
What traders are watching next
With the $81,500 level now tested and held, attention shifts to the $83,000 resistance zone. A close above that range could open the door to a retest of the year's highs. For now, the next few sessions will show whether this was a breakout or just another overshoot in a sideways market.
