On the 21st, Galaxy Research, the research division of major US cryptocurrency financial firm Galaxy Digital, published analysis results indicating that reclaiming the 50-week moving average on a weekly closing basis is the most accurate signal for determining the end of a bear market for Bitcoin (BTC).
The analysis defined a bear market as a phase where the price falls more than 50% and lasts for over 90 days, based on closing prices. It examined six completed bear markets since 2011 and the current downturn as case studies.
