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Bitcoin just broke above its multi-month trading range and a 7-year trendline first established in December 2017. This development electrified holders with new all-time highs of $118k and sparked industry-wide optimism that fueled outsized gains across many top altcoins.
Volatility remains a hallmark of crypto markets, and while weekly gains were muted for traditional stock indexes like the broad-market S&P 500 and tech-heavy Nasdaq 100, they too achieved slightly higher new all-time highs, eliciting a bull post from the official White House X account in the process.
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