The source says Bitcoin bulls defended the $80,500 level, helping lift the cryptocurrency by 7% over the past week.
Bitcoin held support at $80,500, according to the source, and posted a 7% weekly gain that pushed its market capitalization to $1.63 trillion. In market terms, support refers to a price area where buying interest has been strong enough to prevent deeper declines, and the defense of that level suggests buyers remained active during the period covered.