These multiples are approximate, given inconsistencies in early BTC price data; they are intended to illustrate the scale of subsequent rallies rather than imply the moving-average crossover alone caused them.
Historical Precedent Is Not a Guarantee
Past performance does not guarantee future results, and the 50-week average has produced false signals. Two of the 13 historical instances failed, both occurring during the volatile period spanning late 2021 and early 2022. In those cases, Bitcoin briefly moved above the average before rolling over and eventually declining toward $16,000. Galaxy Digital identifies these failed reclaims as the crossovers on Dec. 26, 2021, and March 27, 2022.
As of this writing, Bitcoin is trading near $81,450, with the 50-week average sitting at $78,115, according to CoinDesk data.
If history serves as a guide, the latest reclaim suggests the bear-market low may have been established near $60,000 in recent months. It also raises the possibility that Bitcoin could continue advancing toward new highs. However, that outcome depends on whether Bitcoin can maintain its position above the moving average in the weeks ahead.