Bitcoin's surging price faces 1 key level that could signal if the bear market is really over
Bitcoin has surged 25% recently, but analysts suggest it must reclaim the 50-week moving average of approximately $81,000 to definitively exit the bear market. While daily momentum is strong, some indicators suggest a potential short-term pullback.
Why it matters
Provides technical market analysis for investors monitoring the transition of cryptocurrency assets from bearish to bullish cycles.
Bitcoin BTC $ 79,179.56 has surged by 25% to $80,000 in a week. Still, one bastion needs to fall before the bulls can claim victory.
That hurdle is the simple moving average price over the past 50 weeks, currently around $81,087. Historically, reclaiming this level has been one of the clearest signs that a bear market is actually over, not just pausing.
"11 of 13 times BTCUSD reclaimed the 50w MA during completed bear markets, the bear-market low was in. It currently sits around $82k. If BTCUSD reclaims it on weekly close, history suggests the bear market would likely be over," Galaxy Research said.
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