Galaxy Head of Firmwide Research Alex Thorn reported that the digital asset finished its weekly trading period above a key technical benchmark not reached since 2025. Reclaiming the 50 week moving average has historically served as strong confirmation that a bear market has bottomed, according to Thorn.

Bitcoin rose 29% in 35 days, recording its 1st weekly close above the 50 week average in 45 weeks. This price movement marks the highest technical level seen in more than 10 months for the cryptocurrency, providing a signal used by analysts to identify market bottoms.