BTC's 200-Week Average Rises To $50K To Suggest Long-Term Market Strength
2025-07-01 11:11:36
Main Idea
Bitcoin's 200-Week Simple Moving Average (200WMA) is approaching $50,000, indicating long-term market strength, while the 200-Day Simple Moving Average (200DMA) suggests a current bull market.
Key Points
1. The 200WMA for Bitcoin is currently at approximately $49,223 and has historically provided significant support levels during bear markets.
2. During the 2015 bear market, the 200WMA supported Bitcoin around $200, and in 2018, it held above $3,000.
3. In the March 2020 COVID-19 crash, Bitcoin briefly dipped below the 200WMA to around $5,300 but eventually fell as low as $3,000.
4. Bitcoin experienced a prolonged bear market from June 2022 to October 2023, with prices remaining below the 200WMA, which was around $25,000 during that period.
5. The 200DMA is currently at $96,246, indicating Bitcoin is in a bull market, despite a brief dip below $98,000 amid geopolitical tensions.
Description
The 200-Week Simple Moving Average (200WMA) for bitcoin BTC is approaching $50,000, currently sitting at approximately $49,223, according to Glassnode data. This is one of the very few indicators in bitcoin that has only risen over time. The 200WMA has historically provided significant support levels. During the 2015 bear market, it offered support around $200. During the 2018 bear market, it held above $3,000. In the covid-19 induced crash of March 2020, the price briefly dipped below the 200WM...
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