Bitcoin's Long-Term Floor Reaches New High Above $65,000
A significant development has taken place in the Bitcoin market, with its main long-term support level, the 200-week moving average (200WMA), rising above $65,000. This milestone was highlighted by Blockstream CEO Adam Back, who shared a chart from Look Into Bitcoin showing the market's mathematical 'floor' reaching an all-time high.
The 200WMA reflects Bitcoin's underlying long-term trend by averaging its price over the past four years, equivalent to one full market cycle. Historically, this indicator has served as an absolute price floor, with Bitcoin falling below it for only a few weeks during periods of major global economic shocks.
With the move above $65,000, Adam Back and other supporters of this model have solid mathematical grounds to conclude that Bitcoin may never again trade below $65,000 for an extended period. The current spot market is holding steady, with Bitcoin trading within the $76,000-$77,000 range, maintaining a substantial buffer above the support line.
This price gap confirms that long-term holders are consistently absorbing selling pressure well above the historical baseline. If the current trend continues, the chances of seeing Bitcoin at $60,000 or $64,000 are minimal, as cycle mathematics makes such a scenario unlikely.