Key Bitcoin Indicators Suggest the Price Could Keep Rising

Bitcoin’s Long-Term Metrics Indicate Bull Market May Have More Room to Run

Despite some investors viewing Q4 as the potential end of the current cycle, key long-term indicators suggest Bitcoin’s bull market may still be in its early stages.

Many market participants are taking an end-of-cycle perspective, but two critical metrics tell a different story. According to Glassnode, the 200-week moving average (200WMA)—a key gauge of long-term price trends—has recently surpassed $53,000, maintaining its historically upward trajectory.

Meanwhile, Bitcoin’s realized price—the average price at which all circulating BTC last moved on-chain—has climbed above the 200WMA to $54,000, reinforcing bullish signals.

Historical trends provide further context:

During the 2017 and 2021 bull markets, the realized price consistently stayed above the 200WMA, widening the gap before eventually falling below it and signaling the start of bear markets.
In contrast, during the 2022 downturn, the realized price dropped below the 200WMA, but it has only recently moved back above it.

Analysts note that when the realized price remains above the 200-week moving average, Bitcoin has historically continued higher as the bull market progresses, suggesting that the current rally may still have significant upside potential.