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Bitcoin's 200-Day Average Is Approaching a Record High; Here's Why It Matters
Bitcoin's (BTC) price moved into bullish territory above the 200-day simple moving average (SMA) in October, setting record highs above $73,000 last month. Now, the average, a crucial barometer of long-term trends, is also rising fast in a sign of strong bullish momentum and appears set to surpass its previous peak of $49,452 in February 2022. At press time, bitcoin traded at $66,200, with the 200-day average at $47,909. That's noteworthy for traders as past data show the most intense phase of the bullish cycle unfolds after the average surpasses its previous peak to new lifetime highs. In early November 2020, six ... (full story)