Community Articles
via BeInCrypto · By Phil Haunhorst
Adam Back Flags Bitcoin’s 200-Week Average as a Structural Bull Signal
BTC
BTC/USDT
$63,298.33
+0.36%
$63,298.33
+0.36%
(24s)24h Volume
$2,369,467,313.33
24h H/L
$63,340.00 / $62,968.45
Change: $371.55 (0.59%)
Long/Short
67.7%
Long: 67.7%Short: 32.3%
Funding Rate
+0.0032%
Longs pay
Data provided by COINOTAG DATALive data
PH
Phil Haunhorst(05:06 PM UTC)
1 min read
Bitcoin’s (BTC) 200-week moving average has climbed past $61,000. Blockstream CEO Adam Back flagged the threshold on May 30, weeks after noting the same indicator crossed $60,000 in early May.
The indicator has risen roughly $1,000 in under a month, a pace that reflects steady absorption of supply by long-term holders at current price levels.
A Rising Long-Term Floor
The 200-week moving…
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