![Bitcoin’s 200-day moving average breaks $50,000 for the first time](https://cryptoslate.com/wp-content/themes/cryptoslate-2020/imgresize/timthumb.php?src=https://cryptoslate.com/wp-content/uploads/2024/05/200-1.png&w=70&h=37&q=75)
Quick Take
Bitcoin has primarily oscillated between the $60,000 and $70,000 range since late February, occasionally surpassing $70,000 to achieve its all-time high. However, it briefly dipped below $60,000 at the beginning of May.
The 200-day moving average (DMA) recently breached the $50,000 mark for the first time on May 6, with Bitcoin currently hovering around $61,000. This milestone is significant as the 200DMA is widely regarded as a pivotal indicator delineating bull and bear market cycles.
![Technical Pricing Models, 200DMA: (Source: Glassnode)](https://cryptoslate.com/wp-content/uploads/2024/05/200.png)
In May 2021, Bitcoin dropped below the 200DMA level, which started the bear market. However, by January 2023, it had reclaimed this threshold, marking the commencement of the current bull run. A brief dip occurred below the 200DMA in October 2023, but it has remained a steadfast support since then.
In previous cycles, holding above the 200DMA was a bullish signal, while breaking down through it often presaged bearish momentum. Bitcoin’s ability to maintain prices over $50,443 could reinforce the uptrend.
![Technical Pricing Models, 200DMA: July '19 - May '24: (Source: Glassnode)](https://cryptoslate.com/wp-content/uploads/2024/05/200-2.png)
Meanwhile, the short-term holder’s realized price is on the verge of breaking $60,000.
![Short-Term Holder Realized Price and MVRV: (Source: Glassnode)](https://cryptoslate.com/wp-content/uploads/2024/05/STH-1.png)