Bitcoin Holds Above 50-Week Moving Average Despite 5.8% Thursday Drop

Bitcoin $BTC closed Thursday above its 50-week moving average despite falling 5.8% during a volatile trading session, according to Galaxy Digital's head of research, Alex Thorn.
The 50-week moving average is a widely followed long-term technical indicator. Holding above it suggests Bitcoin has not yet broken this particular trend level, even as short-term selling pressure intensifies.
The distinction matters after the recent market selloff. A single close above the average does not confirm a recovery, but a sustained move below it would signal further deterioration in Bitcoin's longer-term technical position.