Key Takeaways
- Bitcoin’s 200-day moving average hit a record high of $50,178.
- The 200-week moving average surpassed $34,000, suggesting a positive yearly trend.
- Grayscale’s spot Bitcoin ETF had an inflow of $63 million on May 3.
Bitcoin’s 200-day moving average reached an all-time high of $50,178 on May 6, marking a significant bullish trend.
Despite short-term volatility, this indicator provides insight into BTC’s slow long-term growth.
Bitcoiner Anthony Pompliano noted on CNBC’s Squawk Box that:
Bitcoin continues to trend upward even though on a day-to-day basis the price is volatile.
200-week moving average peaks over $34,000
Analyst Willy Woo’s charts reveal the 200-week moving average surpassed $34,000, underscoring Bitcoin’s optimistic yearly outlook.
Bitcoin’s spot price has been above this level since October, with the realized price hovering around $29,000.
