Bitcoin's recent price surge is backed by growing institutional interest and increased adoption. The 50-day moving average has been broken, indicating a potential long-term uptrend. Meanwhile, altcoins are following suit, with Ethereum and Litecoin showing significant gains. Keep an eye on the 200-day moving average as a key resistance level.

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The institutional interest and growing adoption are indeed driving forces behind Bitcoin's surge. Looking forward to seeing if altcoins continue to follow suit and break through their own resistance levels.