Adam Back Flags Key Signal: Bitcoin 200-Week MA Crosses $61K

Cover image via U.Today Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available. In a recent tweet, Bitcoin pioneer and Blockstream CEO Adam Back noted that Bitcoin's 200-Week Moving Average had surpassed $61,000. Advertisement The 200-Week Moving Average remains significant as it provides a tool that captures the baseline momentum of a classic 4-year Bitcoin cycle. Bitcoin's 200-week moving average (200WMA), which is a long-term trendline, is often seen as a dividing line between bear and bull markets. The 200WMA is viewed as a long-term support level that has historically defined the floor during bear markets. #bitcoin 200wma passed $61k https://t.co/vaXgDsseQv pic.twitter.com/tsKH1369JZ — Adam Back (@adam3us) May 30, 2026 The recent tweet from Back marks an update to what he posted on May 4, when the Bitcoin 200WMA surpassed $60,000. Back had frequently kept an eye on the Bitcoin 200WMA, keeping track of even the slightest increases. Advertisement You Might Also Like Sun, 05/24/2026 - 14:00 Headed to $0? Adam Back Questions Long-Term Value of Altcoins, Memecoins By Tomiwabold Olajide HOT Stories Bitcoin (BTC), Zcash (ZEC), Ethereum (ETH) and XRP Price Analysis for May 30: Bearish Pressure Emerges JPMorgan Boss on Crypto Bill: 'We'll Fight It' Back reported when the Bitcoin 200WMA surpassed $59,000 in late March. Bitcoin is down nearly 42% from an all-time high of $126,198 reached last October. Regardless of the short-term price drop, what is obvious from Back's tweets is that the 200 weekly MA continues to trend upward. This suggests that Bitcoin's long-term trend remains intact notwithstanding the short-term price fluctuations. Advertisement Bitcoin short-term price action Bitcoin fell for four straight days, reaching a low of $72,364 on May 29 before slightly rebounding. You Might Also Like Wed, 05/27/2026 - 18:51 'You Know What Happens Next': Analyst Warns of Bitcoin Volatility By Alex Dovbnya At the time of writing, Bitcoin was down 0.05% in the last 24 hours to $73,544. Analysts highlight $70,000 as the primary on-chain support target, which marks traders' on-chain realized price. Traders are currently weighing comments from Federal Reserve Governor Michelle Bowman, who on Friday cautioned against raising interest rates to address the current spike in prices. With inflation well above the central bank's 2% target, markets are expecting the Fed to stay on hold this year, then possibly start raising rates in early 2027. Current pricing is indicating virtually no chance of cuts anytime through at least 2027. #Adam Back #Bitcoin #Bitcoin Price #Bitcoin Price Prediction