Bitcoin Price Could Avoid New Lows As Analyst Points To Historical Pattern
Summary
Galaxy research head Alex Thorn says Bitcoin’s weekly close below its 50-week moving average resembles episodes in 2011–12 and 2019–20, when BTC did not set a lower bear-market low after reclaiming the indicator. Bitcoin closed near $74,968, below the average of about $75,488; its June 2026 low near $59,517 is another reference point. Thorn says a reclaim within roughly a month would preserve his bullish technical view, while cautioning that the historical sample is small and cannot predict the outcome.
