According to Wu Blockchain, Galaxy Research's head Alex Thorn stated that BTC is currently near the 50-week moving average of approximately $81,800. By the weekly close on August 30, this moving average is expected to drop to around $81,100. Galaxy believes that if BTC closes the week above this level, it could be a strong signal that the bear market bottom has likely formed and an upward trend is restarting. Historical data shows that during completed bear markets, BTC has broken above the 50-week moving average 13 times on a weekly basis, with only two instances leading to new lows afterward. In five full bear markets where BTC fell below the 50-week moving average, four of them confirmed the end of the bear market after the first effective breakout above the moving average following the low point. Galaxy also pointed out that the 200-week moving average has historically served as long-term support for BTC during bear markets. In this cycle, BTC dropped to approximately $58,525 on June 30, about 6.5% below the 200-week moving average of $62,626 at the time, but ultimately reclaimed the level by the end of the week. Galaxy therefore believes that this cycle's "bottom support" has held up under testing, and the key now is whether BTC can break through the 50-week moving average, which serves as resistance during bear markets. https://(wublock123.com)/news/btc-weekly-close-above-50-week-ma-bear-market-confirmation-67399