Markets that constantly commerce under the 200-day SMA are stated to be in a downtrend, whereas these buying and selling above the typical are bullish. BTC rose previous the 200-day SMA in October, when the typical worth was $28,000. The breakout – fueled by expectations for a spot bitcoin ETF within the U.S. – paved the way in which for a pointy rally to file highs above $70,000 by March.
