Bitcoin Surpasses Key Moving Average Threshold

Bitcoin has reclaimed its 365-day moving average near $83,000 and is now trading above $84,000. According to Ki Young Ju, CEO of CryptoQuant, this level has been closely watched by market participants as a gauge for whether the bear market has ended.

Ju noted that holding this level could trigger buying from trend-following investors and institutions, making the market more interesting. He emphasized that if Bitcoin holds above $84,000, it would be a significant signal that the bear market is over.

The 365-day moving average is an important technical indicator used by traders to gauge market sentiment. If Bitcoin can maintain its price above this level, it could be a sign that the cryptocurrency is regaining momentum and heading towards a bull run.