According to TradingView data, the 200-week simple moving average (SMA) for Bitcoin (BTC) is currently at $44,200, which, despite having reached an all-time high, is still well below the $69,000 seen at the peak of the bull market in 2021. Historical data shows that bull markets usually end when the 200-week moving average rises to the high of the previous bull market. For example, the 2021 bull market ends when the 200-week moving average reaches the 2017 high of $19,000, while the 2017 bull market ends when the moving average reaches the 2013 high of $1,200. The current BTC price fluctuates in the $90,000 to $110,000 range, which could break out in a bullish move if the historical trend continues. In addition, Deribit Options market data also supports this view. According to Amberdata statistics, call options with a duration of three months or more are priced higher than put options, reflecting the market's expectation of a price increase. The current market price is $96,700, and the most popular option is a call option with a $120,000 call-over price, with a nominal unposition squaring of more than $1.80 billion.