Bitcoin
Establishing its fourth all-time high of 2025, beyond $ 124,000.
The on-chain data of the Glasanode shows that it can mark the early stages of a constant bull market.
This view is a major metric feeling value that measures the total value of all bitcoins, the price at which they were last transferred to the on-chain, divided by the number of coins in circulation. This metric has now climbed above $ 51,888 above the 200-week moving average of bitcoin. (200WMA)A long -term trendline is often seen as a division line between bears and bull markets.
History suggests that when the realized price runs above 200wma and continues more, as was done in 2017 and 2021 cycles, the uptrend remains continuously for a long time. The 200WMA is currently at $ 51,344, acting as a long -term support level which historically defined the floor during bear markets.
This level has been dissolved only during the stress of the extreme market. The most recent example came to the end of the 2022 bear market, when bitcoin fell rapidly between FTX collapse. The price of the realization fell below 200wma in June 2022 and lived there for nearly three years before recovering it in 2025.
It is important to break back over 200WMA, as it indicates renewed investor trust and change in market structure.
If we wear historical patterns, this technological development may be a precursor to a continuous rally. With macroeconomic conditions and institutional interest alignment, the recent price action of bitcoin may be the initial chapter of its next major development phase.
Read more: Who is cashing from bitcoin at a high level record above $ 120k?
