According to Adam Back on X, Bitcoin's 200-week moving average (200WMA) has now crossed above the $47,000 mark, marking a significant technical milestone for traders. Historically, the 200WMA acts as a major support and resistance level, often influencing long-term price trends and institutional trading strategies. This development is likely to attract renewed interest from both retail and institutional investors, as a rising 200WMA is commonly viewed as a bullish indicator in crypto trading circles (source: Adam Back via X, May 17, 2025). Traders are closely monitoring this metric for potential breakout or support confirmation, with increased attention on Bitcoin's role as a market leader affecting broader crypto sentiment.