Bitcoin’s 7-Week Bottom Signal Just Broke. Here Is What Happened the Last 2 Cycles

Bitcoin closed the week ending November 8 at $74,968, slipping 0.7% below its 50-week moving average and ending a seven-week stretch above a threshold that Galaxy’s Alex Thorn had linked to past bear-market bottoms. Attention now turns to the June 28 weekly close of $59,517, the lowest of the current cycle, as the next reference point for holders. The break matters because the 50-week line previously coincided with cycle lows in two earlier downturns, making its loss a potential signal of weakening trend support. Traders will watch whether BTC can reclaim the moving average or whether the June low comes into play.