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Bitcoin's price has broken above its 50-week moving average for the first time in 45 weeks, a move that historical data often indicates as the start of a bull market.
Bitcoin's price closed above its 50-week moving average for the first time in 45 weeks during the week ending September 20. Alex Thorn, Head of Galaxy Research, noted that this could be a significant confirmation signal that the market's bear phase may have ended and a new uptrend is forming. Bitcoin rose nearly 6% this week, trading at approximately $81,000, having rebounded 29% in the past 35 days. Historical data shows that since 2011, Bitcoin has failed to set a new low 11 out of 13 times after breaking above its 50-week moving average, signaling the arrival of a significant bull market.
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Source：CoinDesk · Source Link
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