Benjamin Cowen: Bitcoin's $81,280 Rally Not Enough to Signal Bullish Turn

Cryptocurrency analyst Benjamin Cowen has analyzed that while Bitcoin (BTC) has surpassed $81,280, it is still premature to conclude that the bear market has ended. He noted that during the formation of a golden cross, BTC prices have historically experienced temporary corrections. The current rebound's outcome—whether it surpasses previous highs and closes above the 50-week simple moving average (50W SMA) on a weekly basis—will be more significant than the September decline. If BTC breaks past prior peaks and forms higher highs with weekly closes above the 50W SMA, it could signal a softening of bearish momentum. Conversely, if resistance at current levels leads to lower peaks compared to earlier, a prolonged bear market similar to 2014-2015 may continue.