Bitcoin has moved back above its 50-week moving average for the first time in 45 weeks, according to a Sept. 21 post cited by BlockBeats from Galaxy head of research Alex Thorn. Thorn said that, historically, Bitcoin reclaiming the 50-week MA has often been treated as an important confirmation signal that a bear market bottom is already in place. He also noted that BTC has gained about 29% over the past 35 days. The update focuses on Bitcoin’s weekly closing level rather than an intraday move, highlighting a technical threshold that market participants often watch closely. Thorn’s comment did not add a forecast beyond that historical observation, but framed the move as a level that has previously carried weight in assessing whether downside conditions had run their course. BlockBeats published the item on Sept. 21.
Bitcoin’s weekly closing price has moved back above the 50-week moving average (50W MA) for the first time in 45 weeks, according to a Sept. 21 BlockBeats report citing Galaxy Head of Research Alex Thorn.
Thorn said that, historically, Bitcoin reclaiming the 50W MA has often been seen as an important confirmation signal that a bear market bottom has formed.
BTC is also up about 29% over the past 35 days, he said.
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