Bitcoin has recovered key long-term price levels after rising from its July low. Analysts Ki Young Ju and Ted Pillows believe this suggests the market is entering a new phase.
For context, Bitcoin reached about $85,200 today, its highest level since January, and was trading above $84,500 at the time. That marks a strong recovery from its July low of $57,800. However, Bitcoin remains about 33% below its all-time high of around $126,200.
Bitcoin Moves Back Above Its 365-Day Average
Specifically, Bitcoin has moved back above its 365-day moving average, a key level traders use to track the long-term trend. CryptoQuant founder Ki Young Ju said Bitcoin reclaimed this level at around $83,000 and was trading above $84,000.
He said traders have been watching this level to determine whether the bear market may be ending. If Bitcoin stays above the 365-day average, more momentum traders and institutional investors could start buying.
Notably, Bitcoin had recently fallen below several long-term trend levels. Its ability to remain above $83,000 will show whether the recovery is strong enough to continue.
For context, Bitcoin had fallen to about $57,748 in July before recovering toward the $85,000 range, an increase of roughly 47%.
BTC Has Bottomed, With $88,761 as the Next Big Test
In his tweet, analyst Ted Pillows says Bitcoin’s bottom “is now confirmed”. He pointed to two key signals: Bitcoin made a higher high on its weekly chart and moved back above its 50-week moving average. Pillows said these signs confirm that Bitcoin has reached its bottom.
Now, CryptoQuant analyst Nino says $88,761 is an important level for Bitcoin. The leading cryptocurrency has already moved above its one-year moving average at around $80,061. Its next target is the two-year moving average at about $88,761.
According to Nino, if Bitcoin moves above $88,761 and holds there, it will signal a stronger, longer-lasting uptrend.
Bitcoin Closes Above Its 50-Week Average for the First Time Since November
Notably, Bitcoin ended the week on September 20 at $81,159. That’s about 3% above its 50-week average of $78,786 and 23.9% above its 200-week average of $65,487.
This is the first time in 45 weeks that Bitcoin has closed above its 50-week average. Before this, it had closed below that level for 44 consecutive weeks.
Bitcoin has also risen about 29% over the past 35 days, from around $62,900 in mid-August. In August alone, it gained 25.4%, according to Galaxy Research.
Galaxy found that since 2011, Bitcoin has moved back above its 50-week average 13 times. In 11 of those cases, Bitcoin did not fall to a new low afterward. Historically, these recoveries were followed by strong gains, although the 2021–2022 period was an exception.
Bitcoin is now trading above both its 50-week and 200-week averages for the first time since November 2025. This suggests that the coming weeks could see the price break above $90,000 and re-enter the $100,000 region.