PANews reported on February 14 that according to TradingView data, Bitcoin's (BTC) 200-week simple moving average (SMA) is currently $44,200. Although it has reached its all-time high, it is still far below the 2021 bull market peak of $69,000. Historical data shows that the bull market usually ends when the 200-week moving average rises to the high point of the previous bull market. For example, the 2021 bull market ended when the 200-week moving average reached the 2017 high of $19,000, while the 2017 bull market ended when the moving average reached the 2013 high of $1,200.

The current BTC price fluctuates between $90,000 and $110,000. If the historical trend continues, this range may break out with a bullish trend. In addition, Deribit options market data also supports this view. According to Amberdata statistics, call options with a term of three months or longer are more expensive than put options, reflecting the market's expectation of rising prices. The current market price is $96,700, and the most popular option is a call option with a strike price of $120,000, with a notional open interest of more than $1.8 billion.