Bitcoin Closes Below 200-Week EMA for First Time Since October 2023

Bitcoin closed a weekly candle below its 200-week exponential moving average near $67,628 for the first time since October 2023, ending an 882-day uptrend, according to analysis. Historical recoveries above the 200-week EMA took roughly 14 weeks in 2018, about eight weeks after the March 2020 Covid liquidity shock, and nearly 30 weeks in 2022, with the average spell below the EMA hovering around 17–18 weeks. On-chain momentum has cooled as Liveliness fell below its 30-day and 90-day moving averages, suggesting reduced spending activity and slower capital rotation, while the realized price band around $55,000 and a shifted realization near $42,000 are cited as demand zones. A reclaim of the 200-week EMA would reestablish the long-term trend, while failure to do so keeps focus on those levels as potential liquidity areas, according to the analysis.