Sentiment in the cryptocurrency markets has improved recently, with the main reason behind the rally is the rising interest from institutional investors. Some progress in regulation also supports optimism and attracts more traders who are afraid to miss the rally. Against this backdrop, bitcoin could continue its ascent in the near future, but a lot depends on the technical factors as well.
In particular, the coin has faced a stiff of $7,600 which is hard to be broken without some fresh catalysts and positive headlines. Therefore, there is a risk of a corrective retreat from more than one-month highs. On the other hand, the price could try to stay afloat during the weekend, but at some point, a partial profit-taking is inevitable unless BTCUSD confirms the breakthrough.