Bitcoin’s 200-Week Moving Average Signals Bull Market: Adam Back Says $60K is Key

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<a href="https://jpyxx.com/btc-usd/">Bitcoin</a>’s 200-Week Moving Average is Signalling Bull Market Cues, Says Adam Back

As an analyst, I’m watching Bitcoin closely, and a key indicator just flashed a bullish signal. The 200-week moving average – a long-term trend indicator – has now risen above $60,000. Adam Back, the CEO of Blockstream, sees this as confirmation that Bitcoin is still firmly in a long-term uptrend, or what we call a bull market.

This indicator is a closely followed long-term trend signal in the crypto market. It’s calculated using almost four years of weekly closing prices and has historically marked the lowest point of previous price drops, acting as a support level.

#bitcoin 200wma passes $60k

— Adam Back (@adam3us) May 4, 2026

Why the 200-Week Moving Average Carries Weight

Long-term investors often pay close attention to the 200-day moving average. This line smooths out daily price fluctuations, making it easier to see the overall long-term trend, which has historically risen with each new market cycle.

Whenever a key price level is surpassed, analysts who follow market trends often share new insights about changes in how quickly supply is being used up.

Since 2015, Bitcoin has consistently stayed above a key technical indicator even during its three major price drops. While there were short periods of decline during these downturns, the price always recovered and continued to rise afterward.

The 2022 market downturn temporarily disrupted the usual trend. Bitcoin briefly fell below a key level on weekly charts before recovering. Surpassing $60,000 represents a significant increase from the roughly $40,000 value it hit in late 2024.

Recovery From April Lows Adds Momentum

As a crypto investor, I’m watching Bitcoin closely, and it’s been a good start to the week! It’s trading around $80,000 right now, which is about a 2.3% increase over the last 24 hours, according to CoinGecko. I’m especially relieved to see it recovering from the dips we saw last month in April – it’s nice to be getting some of those losses back.

The price had fallen significantly due to general declines in riskier investments. However, trading activity has remained consistent as the price recovered, indicating that buyers are interested for reasons beyond just a quick, temporary increase.

Despite the current prices, long-term Bitcoin investors and companies are still buying and holding. According to Blockstream’s CEO, companies adding Bitcoin to their balance sheets are preparing for a future where traditional currencies are less dominant.

Adam Back also disagrees with concerns about miners switching to AI tasks. He sees this move as a temporary opportunity to profit from differences in demand, which will naturally balance out through changes in the network’s computing power, rather than posing a long-term risk to its security.

If Bitcoin can maintain its current price above $60,000 in the coming months, it suggests a continuing trend supported by strong underlying data and a generally optimistic market. Whether this level holds will depend on continued buyer interest.

In the next few weeks, we’ll see if the recent increase in purchases, both from general investors and companies, is strong enough to overcome sales from traders looking to make quick profits.

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2026-05-04 21:56