Bitcoin has closed above its 50-week moving average for the first time in about ten months, a technical milestone that traders say has shifted the debate from whether the bottom is in to whether a new bull market is starting. Alice Liu, head of research at CoinMarketCap, told Cryptoprowl that the first weekly close above the 50-week moving average in roughly ten months has changed the discussion. Bitcoin is currently trading at $85,206, up nearly 6% over the past day, while total crypto market capitalization climbed 5% over the same period to $2.89 trillion and the Fear & Greed Index moved to 77, signaling Greed. According to Liu, the rally reflects fresh positioning rather than mainly short sellers getting squeezed, with Bitcoin open interest rising 8.8% over seven days to $55.7 billion, putting it at the 92nd percentile of the past 90 days, while liquidations remained at the 43rd percentile. Institutional flows have yet to confirm the move: US spot Bitcoin ETFs recorded just $6.1 million in combined net inflows across five sessions, though the latest session brought in $433 million, which Liu said points to investors rotating between issuers rather than making a broad directional decision on Bitcoin exposure. The rally is also spreading to other major cryptocurrencies, with Ethereum gaining 6.05% over seven days and Solana rising 10.3%, both outperforming Bitcoin.
BitcoinBitcoin closed above its 50-week moving average for the first time in ten months, a technical milestone traders say may signal a new bull market.
