CoinScoopBitcoin closes above 50-week moving average for first time in 45 weeks
Bitcoin finished the week at $81,178, marking its first close above the 50-week moving average in 45 weeks. Galaxy Digital research head Alex Thorn noted that this milestone historically signals that bear market lows have been established, citing a 29% gain over the past 35 days. While similar recoveries in 2019 and 2023 preceded significant annual growth, a 2022 breakout failed after two weeks. Current funding rates on Binance suggest that leverage remains moderate.
Summaries are written by AI from the original article. Not investment advice.