Bitcoin's surging price faces 1 key level that could signal if the bear market is really over

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Bitcoin BTC $ 79,192.83 has surged by 25% to $80,000 in a week. Still, one bastion needs to fall before the bulls can claim victory.

That hurdle is the simple moving average price over the past 50 weeks, currently around $81,087. Historically, reclaiming this level has been one of the clearest signs that a bear market is actually over, not just pausing.

"11 of 13 times BTCUSD reclaimed the 50w MA during completed bear markets, the bear-market low was in. It currently sits around $82k. If BTCUSD reclaims it on weekly close, history suggests the bear market would likely be over," Galaxy Research said.

Moving averages are tracked by traders and analysts to gauge momentum across different timeframes. Among the most widely followed are the 50-, 100-, and 200-period averages across daily, weekly, and other timeframes. Because so many market participants watch the same levels, they tend to become self-fulfilling, acting as real support and resistance simply because enough traders treat them that way.