Bitcoin’s 200-week moving average has risen above $60,000. Adam Back, CEO of Blockstream, pointed to this level as confirmation that BTC is still in a structural bull market.
Threshold ranks among the most widely viewed long-term technical signals in the cryptocurrency space. The line is roughly a 4-year average of the weekly close and served as a price floor at the previous cycle lows.
Why does the 200-week moving average carry weight?
There are few metrics that command as much attention from long-term holders as the 200-day moving average. The line filters out short-term fluctuations to reveal the broader uptrend, which has turned steadily higher across each previous cycle.
Each crossing above the new round number threshold tends to trigger new comments from cycle watchers who track overall shifts in supply uptake.
Bitcoin has remained above the index during each of its three bear markets since 2015. Short dips during late-cycle pullbacks have given way to renewed bullish momentum each time.
The 2022 bear market briefly broke this pattern. BTC closed weekly below the line for the first time before recovering. Crossing $60,000 represents a sharp rise from the index’s reading of nearly $40,000 in late 2024.
Recovery from April lows adds momentum
BTC traded near $80,000 on Monday, up roughly 2.3% over 24 hours according to CoinGecko data. The asset recovered a significant portion of the losses it incurred during April.
The broader weakness in risk assets had pushed the price below current levels. Trading volume has remained steady throughout the recovery, suggesting that buy-side interest extends beyond the short-term technical bounce.
Long-term bondholders and corporate treasuries continue to absorb supply at these prices. Head of Blockstream Public companies with bitcoin balance sheets are preparing to shift away from fiat currencies, Buck says.
Adam Back also took issue with the warning about miners rotating AI workloads. It depicts the shift as an arbitrage that is resolved through hash rate dynamics rather than a structural threat to network security.
The sustainability of the $60,000 threshold depends on the sustainability of demand during the next quarter. Sustained power would extend to the extent associated with action Deeper signals on the chain And wider Rising phase Via Bitcoin markets.
The coming weeks will test whether spot inflows and corporate buying continue to outpace selling from short-term traders.
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