Galaxy Research: BTC closing above $82,000 weekly could signal the end of the bear market.

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The BTC market update shows Bitcoin rising approximately 25% last week to around $80,000, still below the 50-week SMA range of $81,000–$82,000. Galaxy Research noted that a weekly close above $82,000 could signal the end of the bear market. Historically, the BTC price has retested the 50-week SMA 13 times, with 11 of those instances marking bear market lows. The 7-day ROC reached 25%, a rare level that has often preceded slower gains or pullbacks.

Odaily Planet Daily report: BTC has risen approximately 25% over the past week, reaching near $80,000, but it continues to face key resistance at the 50-week simple moving average, which is currently around $81,000 to $82,000.

Galaxy Research notes that in completed BTC bear markets, BTC/USD has reclaimed the 50-week moving average 13 times, with 11 of those instances coinciding with the formation of the bear market low. If BTC closes the week above approximately $82,000, historical patterns suggest this bear market may already be over.

However, BTC’s current 7-day rate of change (ROC) has reached approximately 25%, a level uncommon over the past five years; historically, after reaching similar levels, BTC has typically experienced a slowdown in upward momentum, a pullback, or a period of consolidation. (CoinDesk)

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