Bitcoin Bull Market Signals Return as Price Reclaims Key Moving Average

Bitcoin has reclaimed its 365-day moving average, a technical indicator that historically signals the beginning of a bull market, according to a report from CryptoQuant. This marks the first time the asset has crossed this threshold since March 2023. The recent price surge, which saw Bitcoin trade near $87,330, is attributed to renewed interest in the debasement trade and signs that long-term holders have ceased selling. The report notes that this crossover carries significant weight as a cycle-defining signal.