#Bitcoin breaks $85,000#
Hot Topic Overview
Overview
Bitcoin's recent surge past $85,000 has sparked market attention. Crypto analytics platform Matrixport notes that Bitcoin, as a cyclical asset, can be judged by its 21-week moving average (approximately 147 days). When the price is above this average, the market can be considered in a bull market phase. Historical data shows that this average has successfully captured major market trends multiple times, including the bull markets of 2020 and 2023, as well as the bear market phase of 2022. Currently, this average sits at around $85,000, and Bitcoin's price maintaining above this level could signal the arrival of a bull market.
Ace Hot Topic Analysis
Analysis
Bitcoin's surge past $85,000 has captured market attention, and digital asset management platform Matrixport believes that the cryptocurrency, as a cyclical and trend-driven asset, can be assessed through its 21-week moving average (approximately 147 days). Historical data suggests that this average has successfully captured major market trends, including the bull markets of 2020 and 2023, as well as the bear market of 2022. Currently, this average sits around $85,000, and Matrixport argues that as long as Bitcoin's price remains above this level, the market can be considered to be in a bull phase. This means that Bitcoin breaking through $85,000 and sustaining above this level would be a significant bull signal, suggesting potential further upward movement in the market.
Public Sentiment · Discussion Word Cloud
Public Sentiment
Discussion Word Cloud
Classic Views
Bitcoin price breaks through $85,000, potentially signaling a bull market.
Bitcoin price trends can be judged through the 21-week moving average.
When the Bitcoin price is above the 21-week moving average, it is suitable to hold a long position.
When the Bitcoin price is below the 21-week moving average, caution is needed.