Bitcoin closed the week ending September 20, 2026 at $81,159, finishing above its 50-week moving average of roughly $78,786 for the first time in 45 weeks, according to Galaxy Research. The next day, September 21, Bitcoin surged to $85,257 before easing to $84,702, a 5.3% gain in 24 hours and a 10% rise over the past month, though it remains down about 3% since the start of the year, when it closed at $87,498 on December 31, 2025. Galaxy Research's Alex Thorn said reclaiming the 50-week average has historically confirmed that bear market lows are in, with Bitcoin up 29% over the 35 days to September 21. The move was amplified by a short squeeze: CoinGlass data showed roughly $313 million of positions were liquidated in a single hour as Bitcoin broke past $84,000, about 96% of that from shorts, totaling around $300 million, and Bitcoin fell back $835 from its peak within 90 minutes once those forced purchases cleared. Spot Bitcoin ETFs netted only about $6.2 million for the week ending September 18, per SoSoValue and Farside, so they did not drive the rally, and the bull signal only holds if Bitcoin closes above $85,000 by September 27, while a close below $78,786 would render the September 20 breakout a false one.
Galaxy Digital Holdings Ltd
Bitcoin