Bitcoin’s 50-Week Moving Average Reclaimed, Says Galaxy

Galaxy Research claims Bitcoin's bear market ended at $58,525. Here's why traders should monitor key levels. Spot ETFs have added about 87,000 BTC since the bear market low. Galaxy Research’s recent analysis claims Bitcoin’s bear market ended on June 30 at a price of $58,525. The cryptocurrency has since reclaimed its 50-week moving average after spending 44 weeks below that critical level. Additionally, spot ETFs have accumulated around 87,000 BTC since the market low, signaling potential renewed interest. These insights are vital for traders to consider future price dynamics, as highlighted in the KuCoin Blog .

Source: Coinfomania