Historical tendencies linked to a key indicator suggest that Bitcoin (BTC) has a lot of rising as the renewed inflation in the United States threatens to challenge the current upward trend.
The simple 200 -week mobile average (SMA) of the price of Bitcoin, which softens the short -term market fluctuations to provide a clearer image of the general trend, stood at $ 44,200 at the time of writing, according to TradingView.
Although this average is at its highest point in history, it is still significantly below the peak of the anterior upward market of $ 69,000 in November 2021.
That can be an important point because the past data show that the upward markets end with the 200 -week SMA that increases to record prices established in the execution of anterior bull.
For example, the previous bullish market ended at the end of 2021 with the 200 -week SMA by increasing to $ 19,000, the 2017 Bull Market Peak. Similarly, the 2017 upward market ended in December of that year, with the 200 SMA of 200 weeks increasing at the record price of more than $ 1,200 established four years ago.
If past trends remain true, Bitcoin’s current range between $ 90,000 and $ 110,000 will probably be resolved by bullish, racing the way for the next ascending movement.
The price of the options in Deribit supports the upward perspective offered by the 200 -week SMA. For example, according to the Amber Data Source, the options with expirations of three months or more show that the purchase options are more expensive than the sales options, indicating an expectation of the increase in the increase in the increase.
In addition, most open interest concentrate on purchase options on higher strikes than the BTC market price of $ 96,700. At the time of writing, the purchase option in the $ 120K strike was the most popular, with an open notional interest of more than $ 1.8 billion, which reflects bullish expectations. Open interest refers to the number of active or open contracts at a given time.
