Bitcoin closed above its 50-week moving average for the first time in 45 weeks, an indicator closely watched by traders as a signal of underlying trend. According to Galaxy Research, this breakout has historically marked a bottom in 11 out of 13 cases since 2011. The price gained 29 % in 35 days, rising from approximately $63,000 to over $81,000. The $82,000 zone remains a major obstacle, with roughly 1.6 million bitcoins purchased at that level that could weigh on any recovery attempt. Galaxy Research however tempers enthusiasm by noting that reclaiming this average does not automatically guarantee entry into a new bull market.
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