Bitcoin's ongoing bull cycle shows no signs of slowing down. Historical trends and key technical indicators suggest that more price growth is on the horizon. The 200-week SMA indicates potential for higher BTC prices.
BTC's 200-week SMA is currently at $44,200—far below its 2021 cycle high of $69,000. In past cycles, bull runs ended when the SMA approached the last cycle’s peak. This suggests significant growth could still be coming.
Bitcoin is trading between $90,000 and $110,000. Previous bull markets followed similar consolidation phases before breaking out to new highs. The 200-week SMA hasn't hit the 2021 peak, suggesting more bullish potential.
Options data shows high demand for BTC above $120,000. With inflation concerns and growing institutional demand, Bitcoin's role as a hedge against currency devaluation is stronger than ever. The outlook remains bullish.