Galaxy Research: Bitcoin losing the 50-week moving average aligns with historical patterns; 4-year cycle remains intact. Alex Thorn, Head of Research at Galaxy Research, noted that after maintaining its position above the 50-week moving average (MA) for seven consecutive weeks, Bitcoin closed below it, with the current closing price at $74,968, which is 0.7% below the 50-week MA ($75,488). He believes this constitutes a false breakdown—similar to historical precedents in the 2011–2012 and 2019–2020 bear market bottoms where Bitcoin recaptured the moving average only to briefly dip back below it—and does not signify a breakdown of the 4-year cycle. Currently, Bitcoin is trading 7.7% lower than its September recovery level, but still maintains a 26% buffer above its June low ($59,517).