Analysis: Bitcoin's 200-week moving average is close to $50,000, showing long-term bullish signals.

BlockBeats news, on July 1, according to CoinDesk, analyst James Van Straten released a market analysis, stating that the Bitcoin 200-week simple moving average (200WMA) has risen to $49,223, nearing the psychological threshold of $50,000. The 200-day moving average (200DMA), which represents the bull-bear boundary, currently stands at $96,246, successfully holding that support during a recent pullback that approached $98,000. The analyst noted that the continued rise of the 200WMA reflects the growth of the market's fundamental value, with the current level nearly doubling from the bear market period of 2022 to 2023 (average line at $25,000). "When the 200-week moving average maintains a 45-degree upward angle, it often indicates that the crypto winter has completely ended." The Nasdaq 100 and S&P 500 indices have reached new highs, creating a favorable environment for Bitcoin to break past its previous high.