#Bitcoin stands at $85,000#
Hot Topic Overview
Overview
Bitcoin's price has surged above $85,000, drawing market attention. Digital asset management company Matrixport analyzes that Bitcoin's trend can be judged through the 21-week moving average (approximately 147 days), which is currently at $85,000. Historical data shows that this average has successfully captured major market trends multiple times, including bull and bear markets. Therefore, as long as Bitcoin's price remains above $85,000, the market can be considered to be in a bull market.
Ace Hot Topic Analysis
Analysis
Bitcoin surged past $85,000, drawing market attention. Digital asset management firm Matrixport believes that Bitcoin, as a cyclical and trend-driven asset, can be judged through 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 is needed. Historical data shows that this average has successfully captured major market trends, including the bull markets of 2020 and 2023, as well as the bear market phase of 2022. Currently, the moving average is around $85,000. As long as Bitcoin's price stays above this level, the market can be considered to be in a bull market phase. This means that Bitcoin crossing $85,000 and remaining above that level may signal the arrival of a bull market.
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Public Sentiment
Discussion Word Cloud
Classic Views
Bitcoin price hit $85,000, potentially signaling a bull market.
Bitcoin's trend can be judged by the 21-week moving average, which sits at $85,000.
When Bitcoin price is above the 21-week moving average, it's suitable to hold long positions.
Historical data shows that the 21-week moving average has successfully captured major market trends multiple times.