The historical trend of the 200-week simple moving average (SMA) of Bitcoin's price suggests that there is still a lot of potential for upside growth. While the current average is at its highest point ever at $44,200, it is still significantly below the previous bull market's peak of $69,000. Past data shows that bull markets typically end with the 200-week SMA reaching the record prices of the preceding bull run. This indicates that Bitcoin's current range between $90,000 and $110,000 will likely resolve in a bullish manner, leading to the next upward movement. Options pricing on Deribit also supports this bullish outlook, with call options being more expensive than put options, indicating market expectations of rising prices. Most open interest is concentrated in call options with strikes higher than Bitcoin's current market price of $96,700, further reflecting bullish expectations.



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