BTC’s 200-Week Mean Price Hits $50,000, Indicating Solid Long-Term Momentum

Bitcoin’s Technical Metrics Highlight Firm Market Foundation as Key Averages Rise

Bitcoin is demonstrating solid technical momentum as it consolidates, with a critical long-term moving average nearing record highs—a sign of ongoing market strength.

Data from Glassnode shows that Bitcoin’s 200-Week Simple Moving Average (200WMA) is approaching the $50,000 level, now sitting around $49,223. The 200WMA is one of the few indicators in Bitcoin’s history that has maintained a consistent upward trend, underscoring the asset’s long-term growth trajectory.

Historically, the 200WMA has served as an important support level during major downturns. It acted as a floor near $200 during the 2015 bear market, held above $3,000 in 2018, and was only briefly breached in March 2020 during the Covid-19 market crash, when Bitcoin temporarily fell to around $5,300, with lows dipping as far as $3,000.

Yet from June 2022 through October 2023, Bitcoin experienced a prolonged bear market, trading below the 200WMA—then hovering around $25,000—for roughly 15 months.

Meanwhile, the 200-Day Simple Moving Average (200DMA), another key technical benchmark often used to differentiate between bull and bear phases, currently sits at $96,246, signaling that Bitcoin remains in bullish territory. Although Bitcoin briefly dipped under the 200DMA between February and April, it remained above the average during its recent decline to $98,000, triggered by geopolitical tensions involving Iran and the United States.

Historically, the 200DMA has been a reliable indicator of broader market sentiment. As the Nasdaq 100 and S&P 500 continue setting fresh all-time highs, this momentum could support Bitcoin’s path toward new record prices of its own.