Bitcoin Price Must Hit $82k to Confirm Bull Run

Bitcoin has surged more than 30% in recent weeks, leaving some investors wondering if it's too late to get in on the action.

However, Galaxy Research analysts say that the current rally may be premature and that a true bull market won't begin until the price closes above $82,000.

The 50-day moving average (MA) has been breached at around $64,000, but historical statistics show that breakouts above this level are often false. In fact, out of 106 breakouts since 2011, exactly 43 turned out to be false.

Galaxy Research studied every downturn cycle in Bitcoin's history and found that the only reliable marker of a long-term trend reversal is the 50-week moving average. Currently standing at $82,470, this level has been a key indicator of a cycle bottom in 11 of the 13 completed bear-market cases.

For those who are hesitant to miss out on potential gains, analysts reassure that buying now would still be premature and that waiting for rock-solid confirmation is standard practice. The true signal that a crypto winter has ended always arrives with a significant delay, often after a prolonged cycle.