Bitcoin has closed above its 365-day moving average, a long-term trend indicator, for the first time since March 2023. The average stood near $80,500, while Bitcoin was trading around $86,000 when it previously closed above the level in March 2023. CryptoQuant said the latest move confirms the start of a new bull market and pointed to similar breaks above the average that preceded major advances in 2019 and 2023.