Bitcoin Realized Price Flips 200‑WMA — Potential Start of a New Bull Cycle

I see Bitcoin’s Realized Price crossing above the 200-week moving average as an important bullish inflection — historically this crossover has marked the start of a sustained uptrend in the 2020 cycle. The metric rising above the 200‑WMA implies the average holder is back in net unrealized profit, which often reduces selling pressure.

That said, history is not deterministic: the 2017 cycle behaved differently, and price can still pull back after fresh highs, as shown by the recent retracement from the new ATH. Institutional flows (high Coinbase institutional share) add a supportive factor, but confirmation requires a sustained hold above the 200‑WMA or a bullish retest.