# Bitcoin Ends Seven-Week Run Above 50-Week Moving Average By Enna Lee Canonical URL: https://www.tokenpost.com/news/investing/53281 Published: 2026-11-10T19:01:13.000Z Updated: 2026-11-10T19:01:13.000Z Section: Investing > The weekly close was $74,968, 0.7% below the $75,488 average. Alex Thorn said the technical portion of his bullish outlook remains valid if Bitcoin reclaims the level within a month. Bitcoin (BTC) closed below its 50-week moving average on Nov. 8, ending seven weeks above the level and testing the technical portion of the bullish outlook from Alex Thorn, Galaxy’s head of firmwide research. Bitcoin finished the week at $74,968, 0.7% below the $75,488 average. The close was 7.7% below its level when Bitcoin moved back above the average on Sept. 20. That reclaim came 12 weeks after Bitcoin reached a June 28 low of $59,517. The latest weekly close was still 26% above that low. Bitcoin had reached $123,524 on Oct. 5, 2025, before losing the average in November and later falling to the June low, a 51.8% decline from the peak. The seven-week stretch extended Bitcoin’s [six-week run above the same average](). Thorn compared the latest break with earlier cycles in which Bitcoin fell below the average again after reclaiming it, while later lows stayed above the prior bear-market lows. In the 2011-12 cycle, Bitcoin reclaimed the average on Jan. 8, 2012, seven weeks after a $2.20 low in November 2011. It later fell below the average for 20 weeks and reached $4.39, still 99% above that earlier low. In the 2019-20 cycle, Bitcoin reclaimed the average on May 5, 2019, then had five more breaks below it. The price spent 13 weeks below the benchmark in total through May 10, 2020, including a March 2020 drop to 38% below the average. Bitcoin’s later $5,359 low remained 68% above its Dec. 16, 2018, low of $3,195. Thorn cautioned that five reclaims make up the full historical sample and that market bottoms become clear only in hindsight. He said the technical portion of his broader bullish outlook, which also covered fundamentals, positioning and sentiment, remains valid if Bitcoin reclaims the average within a month. ## Links in this article - [six-week run above the same average](https://www.tokenpost.com/news/investing/41971)