Alex Thorn, head of research at Galaxy, said in a post on X that Bitcoin closed the week above its 50-week moving average, marking the first such close in 45 weeks. Thorn said a reclaim of the 50-week average has historically served as a strong signal that a bear-market bottom was confirmed. He also noted that Bitcoin has gained 29% over the past 35 days. The comments frame the latest weekly close as a technical milestone, with Thorn pointing to the 50-week moving average as a level that has carried weight in past market cycles. The post did not include additional projections or targets, but highlighted the combination of a weekly close above the average and a 29% rise over 35 days as the key data points.
According to ChainCatcher, Alex Thorn, head of research at Galaxy, said in a post on X that Bitcoin closed the week above its 50-week moving average for the first time in 45 weeks.
Thorn said a reclaim of the 50-week moving average has historically been a strong signal that a bear-market bottom was confirmed. He added that Bitcoin has risen 29% in 35 days.
This article was originally published by Bit.Fan. For more cryptocurrency news and market insights, visit www.bit.fan. Disclaimer:
The market information, project data, and third-party content displayed on this platform are for industry information sharing only and do not constitute any form of investment advice or return commitment.
Cryptocurrency trading carries high risks. Users should fully assess their risk tolerance and make independent decisions. All profits, losses, and legal responsibilities are borne by the users themselves.
