Bitcoin loses 50-week average; past breaks avoided prolonged bear markets

Bitcoin closed below its 50-week moving average, a setback that two historical comparisons suggest has not always marked the start of a prolonged bear market. In both cases, the price subsequently recovered without undercutting the previous bear-market low. In a broadcast on Bitcoin Magazine’s X account on November 9, BMTV’s Sean Hagan said reclaiming the 50-week average was an immediate priority. He described the break as a negative development while pointing to historical precedents that complicate its interpretation. Hagan said Bitcoin ended the week near $74,000, below a 50-week moving average of about $75,500. The close ended seven consecutive weeks above the indicator following 44 straight weeks below it. He described the average as a traditional dividing line between Bitcoin bull and bear markets.

BeCrypto News shows a short excerpt and links to the publisher. The full report belongs to TokenPost.