Bitcoin’s ongoing price range of $90,000 to $110,000 is likely to resolve positively, according to historical trends tied to the 200-week simple moving average (SMA), even as U.S. inflation concerns loom over the market.

At the time of writing, Bitcoin’s 200-week SMA is at $44,200, its highest point ever, as per TradingView data. While this figure is still considerably below the previous all-time high of $69,000 in November 2021, it is significant because past cycles have shown that bull markets typically end when the 200-week SMA catches up to the previous market peak.

In 2021, the bull market concluded with the 200-week SMA rising to around $19,000, a reflection of the 2017 peak. Similarly, the 2017 bull market ended when the SMA hit $1,200, mirroring the record set in 2013.

This historical pattern suggests that Bitcoin’s current price range is likely to experience a bullish breakout, bringing about the next leg of upward movement.

Supporting this optimistic outlook, Deribit options data shows that longer-dated call options are more expensive than puts, indicating market anticipation of higher prices. As of now, the majority of open interest is concentrated on call options with strike prices above Bitcoin’s current level of $96,700. The most popular call option is at the $120,000 strike, with over $1.8 billion in open interest, reflecting strong bullish sentiment in the market.