#Bitcoin breaks $85,000#

Bitcoin's surge past $85,000 has drawn market attention. Digital asset management platform Matrixport believes that Bitcoin, as a cyclical and trend-driven asset, can be judged by its 21-week moving average (approximately 147 days). When the price is above this moving average, it is suitable to hold a long position; when the price is below the moving average, caution should be exercised. Historical data shows that this moving average has successfully captured major market trends on multiple occasions, including the bull markets of 2020 and 2023, and the bear market phase of 2022. Currently, this moving average is around $85,000, and as long as Bitcoin's price remains above this level, the market can be considered to be in a bull market phase. Therefore, Bitcoin's breakthrough of $85,000 and its maintenance above the 21-week moving average are seen by Matrixport as a potential bull market signal, sparking optimistic expectations for the future market trend.