Bitcoin 200-Week Moving Average Climbs Above $60,000

The 200-week moving average, which averages nearly four years of weekly closes, rose above $60,000 after climbing sharply from near $40,000 in late 2024 to the current level. The line filters short-term volatility to show longer-term price trends and has acted as a price floor at prior market cycle bottoms, with one brief weekly close below it in 2022 that was later reclaimed.

Bitcoin traded near $80,000 on Monday, up about 2.3% over 24 hours, according to market data. The asset has recovered a sizable portion of losses from an April decline tied to broader risk-asset weakness. Trading volume remained steady during the rebound, which market participants say indicates buy-side interest beyond a short-term bounce.

Long-term holders and corporate treasuries have continued to absorb available supply at these prices. Adam Back, chief executive of Blockstream, described the 200-week average crossing as “confirmation” that Bitcoin remains in a structural bull market and argued that some public companies holding Bitcoin on their balance sheets are positioning for reduced reliance on fiat currency in certain contexts.

Back addressed concerns that miners are shifting capacity to artificial intelligence workloads, characterizing the activity as an “arbitrage” that would be resolved through hashrate dynamics and adjustments in mining economics rather than a structural threat to network security.

Whether the $60,000 threshold holds will depend on demand over the next quarter. Continued inflows into spot markets and further corporate buying would help sustain the elevated long-term average, while renewed selling from short-term traders could test the level. The coming weeks of trading will provide clearer evidence on whether buying pressure can keep the indicator above $60,000.