It's not likely to move below the 50 week average just yet and if it did so it would be the first time for this whole year so especially bearish. Some price levels are related to a rough sentiment that would match that amount of movement in the price. I doubt we get it by month end but should we have a prolonged series of negative weeks into months it might occur before resolving one way or the other.
Bitcoin has moved above the price that it can correct back to below 50k as at the moment the Bitcoin correction benchmark is 61k and 59k respectively which is an indication of a pending Bitcoin bull run which will see Bitcoin moving to 70k before the end of October.
$70k for this month is not achievable as we see price has ranged between $61k this week and may end so. The moving average on a monthly time is not looking upwards and that is a sign of a correction of the bull experienced lately. The bull run so far got no strength guess we have to keep fingers crossed for next month.
the bitcoin market I see is very weak and needs strong support in order to break through the latest $67k reset. even though there had been a strong bull run after the launch of the Bitcoin ETF, but after a week there was an immediate market price correction. I don't know what caused the market price correction to occur, causing it to last a long time.