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

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

Source: Bloomberg

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.

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Bitcoin Weekly

Source: Bloomberg

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

Source: Bloomberg

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

Source: Bloomberg

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

Bitcoin Halving Cycles

Source: Bloomberg

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

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