Bitcoin Nears May High Within 1%, Reclaims 50-Week Moving Average
- —Bitcoin's gap to its May high has narrowed to under 1%
- —BTC has reclaimed its 50-week moving average
- —In 2019 and 2023, breaks above the 50-week average were followed by 20–30% gains within 1–2 weeks
- —The current advance is tempered by seasonal factors and rising US Treasury yields
Why it matters: Holding above the 50-week average would undercut the case for a fourth-quarter decline, while a drop back below it would revive correction risks.
Source: TokenPost