Despite recent price fluctuations, Bitcoin's long-term trend remains robust, with the 200-day moving average reaching an all-time high of $50,178. This key technical indicator suggests a bullish outlook for the cryptocurrency, with analyst Anthony Pompliano declaring that Bitcoin is "as strong as ever."

The 200-day simple moving average (SMA) is a widely followed indicator that smooths out short-term price volatility, providing a clearer picture of the long-term trend. When Bitcoin's price trades above this indicator, as it is currently, it typically indicates a bullish trend. Conversely, a drop below the 200-day moving average would suggest a bearish trend.

Pompliano, a well-known Bitcoin advocate, emphasized the significance of this indicator during a recent appearance on CNBC's Squawk Box. "Over the long run, Bitcoin continues to trend upward, even though on a day-to-day basis, the price is volatile," he said. "Don't get lulled to sleep by Bitcoin going sideways. The long-term thesis is as strong as ever."

In addition to the 200-day moving average, the 200-week moving average, a longer-term trend indicator, is also at an all-time high of approximately $34,000. This suggests an even more bullish outlook for the cryptocurrency over the next year. Furthermore, the price of Bitcoin has been trading above the 200-week moving average level since mid-October, indicating a strong upward trend.

The realized price (RP) indicator, which measures the value of all Bitcoin at the price they were last transacted on-chain, is also significantly lower than the current price, at around $29,000. This suggests that the long-term trend is indeed bullish, with many investors holding onto their Bitcoin in anticipation of further price appreciation.

While the shorter-term 50-day moving average has dipped slightly from its peak in mid-April, the overall long-term trend remains strong. Pompliano also noted that the Grayscale spot Bitcoin exchange-traded fund (ETF) has seen its first inflows since mid-January, with $63 million flowing into the fund on May 3. This suggests that institutional investors are also becoming more bullish on Bitcoin

Bitcoin's long-term trend remains robust, with key technical indicators such as the 200-day and 200-week moving averages reaching all-time highs. While short-term price fluctuations may be unpredictable, the overall outlook for Bitcoin remains bullish, with many analysts and investors expecting further price appreciation in the long term.