#Bitcoin above $85,000 is a bull market.#
Hot Topic Overview
Overview
Recently, crypto analytics platform Matrixport released a report stating that Bitcoin's 21-week moving average (approximately 147 days) can serve as an effective indicator for identifying bull and bear markets. When Bitcoin's price is above this moving average, the market is in a bull phase, suitable for holding long positions. When the price falls below the moving average, caution should be exercised. Historical data shows that this moving average has successfully captured major market trends multiple times. Currently, the moving average sits around $85,000. As long as Bitcoin's price remains above this level, the market can be considered to be in a bull phase.
Ace Hot Topic Analysis
Analysis
Matrixport analysis 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 average, it is suitable to hold a long position; when the price is below the average, caution should be exercised. Historical data shows that this moving average has successfully captured major market trends multiple times, 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 the Bitcoin price stays above this level, the market can be considered to be in a bull market phase.
Public Sentiment · Discussion Word Cloud
Public Sentiment
Discussion Word Cloud
Classic Views
Bitcoin price above the 21-week moving average (approximately 147 days) is suitable for holding longs, and the market can be considered to be in a bull market.
The 21-week moving average has successfully captured major market trends many times, including the bull markets of 2020 and 2023, as well as the bear market of 2022.
When the Bitcoin price is below the 21-week moving average, caution should be exercised.
The current 21-week moving average is around $85,000, and as long as the Bitcoin price remains above this level, the market can be considered to be in a bull market.