If Bitcoin Loses Its Key Support, Bitwise's Bullish Report Faces a Real Test

Three Things to Know Bitwise raised its 2036 Bitcoin target, saying it is more bullish than a year ago. Bitcoin is stuck at its 50-day average, and momentum still leans slightly lower. The floor at the 200-day average is the line bulls must defend. Bitwise has published a more aggressive long-term Bitcoin forecast. The asset manager's new capital market report argues that the past year strengthened the case for BTC as a global store of value. The timing is awkward for bulls. Bitcoin has cooled after its autumn run and now trades sideways with fading momentum. Traders face a simple question. Will buyers defend the long-term trend line, or will a break lower put the bullish outlook under short-term pressure?

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