Unprecedented Resilience: Bitcoin Breaks New Ground, Defies $48K Price Floor

Bitcoin's 200-Week Moving Average Surpasses $48,000 for the First Time

Blockstream CEO Adam Back highlights a major milestone in Bitcoin's long-term trajectory. The cryptocurrency's 200-week moving average (200 WMA) has now climbed above $48,000, achieving this level less than a month after first breaking through $47,000 on May 15.

The 200WMA serves as a crucial long-term technical indicator across financial markets, helping investors cut through short-term price fluctuations. This metric frequently acts as dynamic support during significant market movements. While Bitcoin has occasionally fallen below the 200WMA during major downturns - like the March 2020 crash - these dips typically prove temporary and often present strategic buying opportunities.

Market analysts widely regard the 200WMA as Bitcoin's ultimate price floor. The cryptocurrency recently set a new all-time high of $112,000 in late May before experiencing some market correction.