Bitcoin Reclaims Key Moving Average, Global Crypto Market Cap Rises

The global crypto market cap rose 2.3% to $2.87 trillion over the past 24 hours, driven by Bitcoin's 5.5% weekly gain to $81,361.10.

Galaxy Digital research head Alex Thorn said that Bitcoin reclaiming its 50-week moving average confirms a bear market bottom, which has not been seen in 45 weeks.

On the other hand, Zcash saw significant volatility, with Garrett Jin closing his three-month short position at a $36.13 million loss.