Galaxy Research: If BTC Weekly Close Surpasses Approximately $82,000, It May Signal the End of the Bear Market

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

Galaxy Research stated 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 bear market lows already being formed. If BTC can reclaim the approximately $82,000 level on a weekly closing basis, historical experience suggests that the current bear market may have already ended.

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 typically experiences a slowdown in momentum, a pullback, or a period of consolidation. (CoinDesk)