Bitcoin closes above 50-week moving average after 29% surge
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Bitcoin has closed above its 50-week moving average for the first time in 45 weeks, trading around $81,000 after jumping 29% in just over a month.
This move is catching attention because, in past years like 2012 and 2019, similar breakouts have kicked off major rallies.
Some see this as a sign that the long slump might be ending and an upward trend could be starting.
Bitcoin near $81,450 above $78,115 average
Historically, crossing above this average has been a pretty strong signal for Bitcoin's next moves, even if it hasn't always worked out (looking at you, late 2021).
Right now, Bitcoin is trading near $81,450 and well past its $78,115 average.
If history repeats itself, we could see new highs soon, but remember: crypto can always surprise you.