Bitcoin‘s 200-week moving average, a key long-term support indicator, has surpassed $65,000 for the first time, marking a historic milestone. This moving average reflects Bitcoin’s price trend over four years and has traditionally acted as a strong price floor, rarely breached except during major economic crises. The rise suggests Bitcoin’s structural baseline is strengthening, making future drops below $65,000 unlikely. Currently, Bitcoin trades above this support line, indicating strong demand from long-term holders and a reduced risk of significant price declines below this threshold.
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Bitcoin, Ethereum, and XRP hold steady near key levels ahead of Fed’s Sept 16 decision amid rising Treasury yields.
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