Bitcoin drops below 50-day moving average for first time in 66 days

Bitcoin traded below its 50-day moving average on Saturday morning for the first time in 66 days, CryptoTicker reported. The price stood at $80,806, which sits $1,001 or 1.23 percent below its calculated 50-day moving average of $81,807. This marks the second consecutive day the asset has remained below that threshold. [1]

The initial decline occurred on October 23 when the price closed at $81,328, according to CryptoTicker. That closing level was $459 below the 50-day average of $81,787 recorded at that time. CryptoTicker noted that the drop represents the first extended spell below the 50-day line since late summer, although the asset remains 10.84 percent above its 200-day moving average. [1]

Bitcoin operates as a digital asset built on blockchain technology that uses a proof-of-work mechanism to secure its network. The protocol relies on miners competing to solve computational puzzles to validate transactions and add new blocks, earning block rewards that halve roughly every four years until reaching a hard cap of 21 million units. [4][5]

CryptoTicker stated that crossing below the 50-day line provides a key level that automated trading programmes orient themselves by, rather than signaling an absolute verdict on the long-term trend. [1]