Galaxy Research Head: Bitcoin Closes Below 50-Week Moving Average for First Time After 7 Consecutive Weeks Above It

Odaily: The Head of Research at Galaxy posted on X that Bitcoin has closed below the 50-week moving average for the first time after 7 consecutive weeks above it. From 2011 to 2012 and from 2019 to 2020, Bitcoin also closed below the 50-week moving average twice after reclaiming it at bear market bottoms. According to weekly closing data, neither of these two bear markets made lower lows.