Bitcoin Nears Bull Market as Price Tests 200-Day Moving Average

Disclaimer: Your capital is at risk. This is not investment advice.

ByteFolio Issue 209;

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This issue covers The CLARITY Act, Helium (HNT), and Hyperliquid (HYPE).

Bitcoin’s ByteTrend Score holds a 3. The price has neared the 200-day moving average for the first time since October. I sense resistance ahead, but progress has been good.

Bitcoin

But you can’t say that Bitcoin is yet in a bull market because the price trades below the 200-day moving average, which is still falling. A confirmed bull could happen over the summer. But looking at the weekly chart, things look good. The 200-week MA is alive and well and sloping nicely. I like this chart.

Bitcoin Weekly

From the market, we have Bitcoin vs software, which dragged it down in the first place last October. Bitcoin is catching up, despite being a more volatile asset. In this case, that meant it fell harder during the bear.

Bitcoin in Software

But one chart that puzzles me is Ethereum. It started performing in 2025, but despite a boom in tokenisation and stablecoins, it is lagging behind. A true bull market ought to bring the leading altcoins with it. Not yet.

Bitcoin and Ethereum

Fortunately, help is at hand as Saylor’s Strategy has returned to a premium. That implies high demand from investors, not only for Bitcoin, but all it stands for and its potential.

Bitcoin versus Saylor

In terms of the Bitcoin halving cycle, we are still in the middle bit.

Bitcoin Halving Cycles

The normal cycle ends very soon, and I sense this one has ended early, having started early. Bitcoin is calmer these days.

Bitcoin Nears Bull Market as Price Tests 200-Day Moving Average