Bitcoin’s 200-week moving average, regarded as a key long-term support level, has risen above $65,000 for the first time, blockchain media outlet U.Today reported on Sept. 13 local time.

Bitcoin’s long-term market floor rose in a month from $64,000 to above $65,000. The move drew attention after Blockstream CEO Adam Back shared a Look Into Bitcoin chart. Back focused on the mathematical floor for bitcoin rising to an all-time high level. The chart cited by the outlet showed the indicator climbing from around $64,000 in August to above $65,000 now.

The 200-week moving average reflects the average price over the past four years. It is used to gauge long-term trends based on a period corresponding to one bitcoin market cycle, serving as a yardstick for structural moves rather than short-term volatility. The outlet explained that the indicator filters out daily noise and speculative movements.

Markets are focusing on the fact that the line has effectively served as an absolute floor even in past bear markets. Bitcoin spent only a few weeks below the line even in the steepest downturns, and only during periods of major global economic shocks. As a result, the long-term support line’s continued upward slope suggests bitcoin’s structural reference price is rising faster than in the previous cycle.

Against this backdrop, Back and market participants who support the model see little likelihood that bitcoin will trade below $65,000 for an extended period. The outlet said the 200-week moving average crossing $65,000 provides a “mathematical basis” that bitcoin may not stay below that price for long again.

Spot market prices are also lending weight to that reading. Bitcoin is trading between $76,000 and $77,000. That leaves a gap of more than $10,000 from the long-term support line. The price difference was presented as a sign that long-term holders are steadily absorbing selling pressure at levels far higher than the previous baseline.

U.Today judged that if the current trend continues, the chance of seeing bitcoin again in the $60,000 or $64,000 range is small. It said the probability of such a scenario is low in terms of cycle mathematics. The next point for markets to watch is how much distance bitcoin can maintain from the newly higher 200-week moving average while sustaining a stable trend around the $76,000 range.

A comparison offered by the outlet also drew attention. U.Today likened the current zone to a principle Charlie Munger described as buying “a first-class asset at that asset’s true historic cost.” Still, the key point confirmed this time is not the investment maxim itself but that bitcoin’s long-term baseline has actually moved above $65,000, lifting the market floor by one step.