PANews June 5 news, according to CoinDesk, Bitcoin's 50-day simple moving average (SMA) has exceeded the previous high of about $99,300 on January 31, and is regarded by analysts as an indicator of market trends and potential supply and demand areas. The new high of the average line appeared a few weeks after the spot price hit a peak of $111,000 on May 22. The rise may be due to strong inflows of spot ETF funds and the transfer of funds from US assets. But the gains have stagnated since then, and the price has fallen back to $105,000, narrowing the gap with the 50-day SMA, indicating that the upward momentum has weakened, the buying pressure has decreased, and the risk of a correction has increased. This cautious attitude coincides with the increase in holders' profit-taking in on-chain data. Although the difference is still positive, it has been narrowing since May 22, indicating that the bullish momentum is weakening. A potential correction may find support at the 50-day simple moving average of $100,295. A similar pattern was observed in December last year, marking the exhaustion of the upward trend above $100,000. The differential finally turned negative in February, triggering a multi-week sell-off toward $75,000.