Bitcoin opened at $75,172 and surged to an intraday high of $78,384, invalidating the seven-month descending resistance trendline. The move followed news that the Strait of Hormuz would remain open, sending oil prices lower and risk assets higher.

MicroStrategy shares jumped over 10% on the session and have climbed more than 23% over five trading days, pushing the company’s Bitcoin treasury back into positive territory. The stock now slightly outperforms the S&P 500 year-to-date thanks to strengthened correlations with equity markets.

Despite the recent breakout, the 50-day EMA remains below the 200-day EMA, maintaining a death cross that signals any recovery is not yet confirmed. Bulls face a critical test to sustain above the broken trendline or risk a pullback toward the $50,000–$55,000 support zone.