Bitcoin Closes Above Its 50-Week Moving Average for Seventh Straight Week, Even After Binance Ha
Original headline비트코인 50주선 위 7주 연속 마감…바이낸스 해킹 뒤에도
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Bitcoin held above its 50-week moving average for a seventh consecutive weekly close, even after the Binance security breach, according to a Galaxy Research assessment cited by Odaily. Galaxy Research head noted in an X post that Bitcoin "maintained its current technical market structure," signaling resilience despite the major exchange hack. Per Galaxy's October 22 report, Bitcoin had spent 44 weeks below the 50-week line before reclaiming it in the week ending September 20, then closed above it for five straight weeks through the week ending October 18. The two subsequent weekly closes extended that streak to seven, underscoring that the technical structure has withstood an exchange-level shock. Watch whether upcoming weekly closes hold above the 50-week line, as a break would end the streak and signal a potential shift in market structure.
Muhabbit's AI wrote this summary in its own words from TokenPost's report and translated it from Korean. It can get details wrong, so check the source.
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Bitcoin (BTC), Binance, Galaxy Research
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