Bitcoin’s closely watched 200-week simple moving average (WMA) has surpassed the $60,000 threshold for the first time, reaching $60,517 on May 4, 2026. Blockstream CEO Adam Back flagged the crossing as confirmation that Bitcoin remains in a structural bull market, emphasizing that the indicator acts as a “mathematical floor” during severe correction cycles.
The 200-week MA filters short-term volatility to expose the broader uptrend, which has climbed steadily across every prior cycle. Data shows the indicator rose sharply from near $40,000 in late 2024, and the current ratio of price to this average stands at 1.30, suggesting a healthy premium relative to the long-term trend.
Bitcoin traded near $80,052 at the close of the session, up 1.62% in 24 hours and marking the highest level since late January 2026. The price has gained for five consecutive days, recovering from April lows that had pulled the asset well below current levels. Trading volume has held steady, suggesting buy-side interest extends beyond a short-term technical bounce.
Historically, Bitcoin has respected the 200-week MA as support during the bear markets of 2015 and 2018. The 2022 cycle briefly broke that pattern when BTC closed below the line for the first time, but the current recovery reinforces Adam Back’s “hyperbitcoinization” thesis.
Corporate treasuries continue to absorb supply. Blockstream recently backed a $1.28 million funding round to expand the Bitcoin treasury of Capital B, a European-listed firm, with Back now holding approximately 9.97% of the entity’s share capital. Long-term holders and institutional investors via spot Bitcoin ETFs remain steady buyers, while short-term holders take profits near $80,000.
External factors also support the asset. Reduced Brent oil price volatility — retreating toward $107 after geopolitical tensions in the Strait of Hormuz — eased pressure on risk assets. According to XTB market reports, breaking the $80,000 resistance could clear a path toward the $82,000 zone, where the 200-day exponential moving average lies.
Adam Back pushed back on concerns about miners rotating to artificial intelligence workloads, framing the shift as an arbitrage opportunity resolved through hashrate dynamics rather than a structural threat to network security. Sustainability of the $60,000 support will be tested in the current quarter. If strength holds, institutional capital flow is projected to continue outpacing speculative selling.
