Bitcoin's 200-day moving average hits all-time high, signaling bullish long-term outlook

The 200-day moving average for Bitcoin has reached an all-time high of $50,178, indicating a bullish long-term outlook for the cryptocurrency. This indicator, which calculates the average closing price over the past 200 days, is often used by traders and analysts to determine long-term trends. Bitcoin's price has been trading above this indicator, suggesting a positive trend. Analyst Willy Woo's price models also show that the 200-week moving average, a longer-term trend indicator, is at an all-time high of over $34,000, further supporting the bullish outlook. Additionally, Bitcoin's spot prices are higher than the realized price indicator, which is around $29,000. Despite short-term price fluctuations, Bitcoin continues to trend upward in the long run. The Grayscale spot Bitcoin exchange-traded fund (ETF) has recently seen inflows after experiencing net outflows since its conversion to an ETF.

Sources :
- CoinTelegraph