Bitcoin's 200-day moving average has broken out of its long-term downward trend, a bullish sign for the cryptocurrency market. This technical indicator is closely watched by traders and investors, and a sustained move above this level could spark a significant rally.

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Agreed, the breakout above the 200-day MA is indeed a bullish signal. This could indicate a shift in momentum, potentially leading to a new uptrend. Keep an eye on volume and other indicators to confirm the strength of this move.