Bitcoin price remains above one of its most-watched long-term support levels, giving traders more confidence after weeks of uncertainty. At the same time, on-chain data shows long-term BTC holders are selling less, while another key metric has returned to a more balanced level. Bitcoin price has closed above the 200-week moving average for another week, adding to the growing view that the market is holding up well. Crypto analyst Michaël van de Poppe said another weekly close above this level is a strong sign.