Galaxy Research: If BTC Weekly Close Surpasses ~$82,000, It May Signal the Bear Market is Over

According to Odaily, BTC has risen approximately 25% over the past week, briefly reaching near $80,000. However, it currently faces key resistance at the 50-week simple moving average, which is currently positioned around $81,000 to $82,000.

Galaxy Research notes that in completed BTC bear market cycles, BTC/USD has reclaimed the 50-week moving average 13 times, with 11 of those instances corresponding to formed bear market lows. If BTC can reclaim the ~$82,000 level on a weekly closing basis, historical experience suggests this bear market may already be over.

However, BTC's current 7-day Rate of Change (ROC) has reached approximately 25%, a level that has been relatively rare over the past five years. Historically, after reaching similar levels, BTC has typically experienced a slowdown in gains, pullbacks, or periods of consolidation. (CoinDesk)