Bitcoin started 2025 strong, nearly hitting $100,000 on its 16th anniversary. After dipping below that mark in December 2024, it’s been a bit of a struggle to gain momentum. But things are looking up, with a nearly 5% price increase this past week.
Bitcoin Retests a Key Level
Crypto analyst Ali Martinez says Bitcoin’s price is at a crucial point. He’s looking at the 50-day moving average (50MA) – a common indicator of medium-term price trends. Bitcoin’s price has bounced around the 50MA before, using it as both support and resistance. After briefly falling below it, Bitcoin’s price is now retesting this level.
Martinez thinks Bitcoin might fall further after this retest. However, if it stays above the 50MA, that could signal the end of the price correction and a potential bullish turnaround. At the time of writing, Bitcoin is around $98,358, up about 1% in the last day and almost 5% in the last week.
Could Exchange Outflows Spark a Bull Run?
Martinez also pointed out a significant amount of Bitcoin – over 48,000 BTC (over $4.5 billion) – has left exchanges in the past week. This suggests investors are moving their Bitcoin to personal wallets, possibly for long-term holding. This could mean growing confidence in Bitcoin’s future and even signal new buying activity. Overall, this outflow from exchanges could be a positive sign for Bitcoin’s price.
