Galaxy Research: BTC reclaims 50-week EMA or marks the end of the bear market

On Twitter, according to an article by Galaxy Research (@glxyresearch), Bitcoin's 50-week moving average (currently around $82,000) is receiving a lot of attention from the market. Historical data shows that of the 6 completed bear markets, BTC has recovered the 50-week EMA on 13 occasions. Of these, 11 successfully marked the establishment of a bearish low, with a failure rate of only about 15%. In contrast, the 50-day EMA is noisy. Of the 6 bear markets, 43 of the 106 recoveries ended in failure, and the first 50-day EMA rebound of each bear market ended in failure. Galaxy Research notes that if BTC stabilizes at the 50-week EMA this week with a weekly closing price, historical experience indicates that the current bear market is likely to be over.