Bitcoin has gained 39 % since its cycle low of $58,525 reached on June 30, 2026, representing a 53.1 % decline from its October 2025 record of $124,824. On Sunday, Bitcoin posted its first weekly close above its 50-week moving average in 45 weeks, a technical signal that Alex Thorn, head of firmwide research at Galaxy, identified as historical confirmation of bear market bottoms. Thirteen previous instances were identified in completed bear market cycles, with only two followed by another lower low, both occurring during the 2021-2022 decline. The weekly close settled at $78,786, or 3.0 % above the 50-week MA and 23.9 % above the 200-week MA, strengthening the case that the cycle low may be in.
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