Bitcoin Must Reclaim $82,470 to Confirm End of Bear Market

Bitcoin's price movement has sparked debate about whether the current bear market has ended. According to Galaxy Research, Bitcoin needs to reclaim its 50-week moving average of $82,470 for the recovery to be confirmed.

Historically, when Bitcoin has held this level after a bear market, it has successfully recovered in 11 out of 13 instances. Currently trading around $77,190, a weekly close above $82,000 would strengthen the case that the June 30 low was the market bottom.

Galaxy Research emphasizes that shorter-term averages are less reliable indicators than longer-term ones like the 50-week moving average. Until Bitcoin reaches and holds this level, experts caution that the recovery remains unconfirmed.