TL;DR:
- Bitcoin’s 200-week simple moving average (WMA) reached $60,517 this May 4, 2026.
- The Bitcoin price stood at $80,052 at the close of the session, accumulating five consecutive days of gains.
- Blockstream, under the direction of Adam Back, has increased its exposure to Bitcoin treasuries through strategic investments in May 2026.
Officially, Bitcoin’s 200-week moving average surpassed the $60,000 threshold, reaching $60,517 during this Monday’s session. This technical indicator, considered one of the pillars of macroeconomic analysis in the crypto sector, reflects the asset’s average price over nearly four years of weekly closes.
Blockstream CEO Adam Back stated that this level confirms the pioneer crypto maintains a bullish market structure. The cryptographer argues that this average acts as a “mathematical floor” that—generally—serves as a base during the most severe correction cycles.
#bitcoin 200wma passes $60khttps://t.co/h6D8LTnC8B pic.twitter.com/bG1z8SDWpZ
— Adam Back (@adam3us) May 4, 2026
Impact of the moving average on macro sentiment
Since late 2024, the indicator has experienced a sharp rise, when the 200-week average was near $40,000. Data from MacroMicro indicates that the ratio between the current price and this average sits at 1.30, suggesting the market is operating at a healthy premium relative to its long-term trend.
Historically, Bitcoin has respected this line as support during the bear markets of 2015 and 2018. The 2022 cycle represented a temporary anomaly by briefly closing below it, but the current recovery above $60,000 reinforces Back’s thesis on “hyperbitcoinization.”
This May 4, the Bitcoin price reached $80,052, representing a 1.62% increase in the last 24 hours and marking the highest level recorded since late January 2026.
Accumulation dynamics and external factors
The momentum toward $80,000 coincides with renewed interest from corporate treasuries. Adam Back recently backed a $1.28 million funding round to expand the Bitcoin treasury of Capital B, a European-listed firm. Official filings of the deal detail that Back now holds approximately 9.97% of the entity’s share capital.
On the other hand, the reduction in Brent oil price volatility, which retreated toward $107 following geopolitical tensions in the Strait of Hormuz, eased pressure on risk assets. According to XTB market reports, breaking the $80,000 resistance could clear a path toward the $82,000 zone, where the 200-day exponential moving average (EMA) is located.
The Glassnode report reveals that while short-term holders began taking profits near this psychological level, absorption by spot Bitcoin ETFs remains steady. Adam Back maintains that the rotation of miners toward AI workloads does not represent a structural threat, but rather an arbitrage opportunity resolved through hash rate dynamics.
The sustainability of this $60,000 support will be tested in the current quarter. If strength holds, institutional capital flow is projected to continue outweighing selling pressure from speculators. A verifiable short-term event will be the launch of the DTCC tokenized asset settlement pilot, scheduled for July 2026, which could influence overall crypto market liquidity.
