Bitcoin’s price has cleared a key hurdle that has historically preceded major bull runs
Summary
Bitcoin closed the week ending Sept. 20 above its 50-week moving average for the first time in 45 weeks, after gaining nearly 6% that week and 29% over 35 days. Galaxy Research says such weekly reclaims have often coincided with bear-market lows: in its review of 13 historical instances, 11 were not followed by a new low. Two reclaims in 2021–22 failed, however, and past performance does not guarantee future results. Bitcoin was near $81,450, above the average at $78,115. Whether the breakout signals a lasting recovery depends on Bitcoin holding above that level.
