Bottom confirmed? Bitcoin stands above the '50-week moving average' for the first time in 45 weeks, up 29% in 35 days.

BlockBeats news, September 21: Galaxy research director Alex Thorn posted that Bitcoin's weekly closing price has reclaimed the 50-week moving average (50W MA) for the first time in 45 weeks.

Thorn stated that historically, Bitcoin reclaiming the 50W MA is often regarded as an important confirmation signal that a bear market bottom has formed. Currently, BTC has risen about 29% over the past 35 days.