Galaxy Research Head: Bitcoin First Closed Below 50-Week MA After Seven Consecutive Weeks Above It

Odaily Planet Daily News: Galaxy Research Director posted on X platform stating that Bitcoin has, for the first time, closed below its 50-week moving average after maintaining a position above it for seven consecutive weeks. In both 2011–2012 and 2019–2020, Bitcoin had previously rebounded above the 50-week moving average at bear market bottoms, only to close below it again. According to weekly closing data, neither of these bear markets recorded lower lows afterward.