Bitcoin’s 200-Week SMA Indicates Continued Bull Market Potential

Historical trends indicate potential upward movement for bitcoin (BTC) despite inflation in the U.S. challenging the current trend.

The 200-week simple moving average (SMA) of bitcoin's price is $44,200, its highest ever but below the November 2021 peak of $69,000.
Typically, bull markets end with the 200-week SMA aligning with previous market peaks.
If historical patterns continue, bitcoin could rise to a range between $90,000 and $110,000.
Options pricing on Deribit supports this bullish outlook, showing higher costs for call options compared to put options.
Most open interest is in call options at strikes above BTC's current market price of $96,700, with the $120K strike option having over $1.8 billion in notional open interest.