Bitcoin’s 200-Week MA Reaches New Record High: Will Price Drop Ever Again?

Cover image via U.Today
Bitcoin’s long-term trajectory has just taken a new turn, surpassing $48,000 for the first time according to Blockstream CEO Adam Back.
The 200-week moving average (200 WMA) achieved this milestone within a month of initially reaching above $47,000 on May 15. This indicator is frequently used by traders as a filter for short-term market fluctuations.
Furthermore, the 200 WMA acts as a dynamic support level during major market movements. A historical example was seen during the March 2020 market crash when Bitcoin briefly dipped below this level. However, these drops are often fleeting and mark opportunities for generational buying.