Bitcoin has reclaimed all of its key long-term moving averages for the first time in about 300 days, according to on-chain analytics firm Glassnode.

On September 22, Glassnode wrote on X, formerly Twitter, that "Bitcoin has reclaimed all long-term moving averages."

Bitcoin had traded below those moving averages for about 300 days, but the recent move marks a reversal in trend, the firm said.

Glassnode added that holding above those moving averages will be critical to sustaining a long-term uptrend.