Alex Thorn: Bitcoin closes below 50 week moving average after 7 week streak

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13 min ago

Alex Thorn: Bitcoin closes below 50 week moving average after 7 week streak — Bitcoin falls under 50 week moving average

Bitcoin closed below its 50 week moving average after remaining above it for seven consecutive weeks.

Alex Thorn observed that previously, in 2011-12 and 2019-20, BTC also closed below its 50 week moving average after reclaiming it following a bear market bottom. Thorn added that in neither of those earlier instances did bitcoin set a new lower low on a weekly close basis.

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Thorn previously noted that despite greater institutional and centralized bitcoin ownership, most BTC continues to be held in unattributed self-custody here. He has also highlighted the resolution of a puzzle involving bitcoin’s genesis block that centered on weak entropy in a multisig setup here. These observations reflect Thorn’s ongoing focus on both technical and market developments in bitcoin.

This material may contain third-party opinions, none of the data and information on this webpage constitutes investment advice according to our Disclaimer. While we adhere to strict Editorial Integrity, this post may contain references to products from our partners.

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