Bitcoin closed below its 50-week moving average after spending seven consecutive weeks above it, according to Galaxy research head Alex Thorn, as reported by Jinse Finance on November 9, 2026.
Two historical comparisons
Thorn identified two earlier instances, in 2011–2012 and 2019–2020, when Bitcoin regained its 50-week moving average following a bear-market bottom, then closed below it again.
In both cases, the subsequent bear-market price action did not establish a lower low based on weekly closing prices. That qualification matters: the comparison concerns weekly closes, not intraweek price lows.
What the comparison establishes
Thorn’s observation provides two historical precedents in which a renewed close below the 50-week average did not lead to a lower bear-market weekly close. It does not establish that the same outcome will follow this time, and the report supplied no price target or forecast horizon.
Source: Jinse Finance original report, published November 9, 2026, at 10:49:03 (UTC+8), citing Alex Thorn’s post.
