Is Bitcoin's Bear Market Over? Galaxy Thinks It Might Be
Alex Thorn said improving technical signals and spot bitcoin ETF buying support accumulation after BTC rose 38% from June lows.
- On Monday, Galaxy Digital head of firmwide research Alex Thorn reported that Bitcoin's bear market ended in June, indicating the asset is now in an accumulation phase.
- Thorn identified a bullish recovery above Bitcoin's 50-week moving average after spending 44 weeks below it, with five consecutive weekly closes above that level strengthening conviction in a market bottom.
- Bitcoin traded around $80,000 recently, up 38% from June lows under $58,000, while spot Bitcoin ETFs added 87,000 BTC since the low, suggesting renewed directional demand.
- According to Commodity Futures Trading Commission data, asset managers' net long position in CME Bitcoin futures fell 57% from the all-time high, indicating speculative 'fast money' has left.
- Galaxy warned that a weekly close below $76,540 would challenge its technical thesis, though rising U.S. debt and persistent deficits strengthen Bitcoin's long-term appeal as a fixed-supply asset.
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Cryptocurrency News | Cryptocurrency Prices | Market Cap‘Bear Market Ended in June’: Galaxy Digital Says Bitcoin (BTC) Is in Accumulation Phase Before Price Surge
Researchers at the crypto firm Galaxy Digital think the Bitcoin (BTC) bear market ended four months ago. Alex Thorn, Galaxy’s head of firmwide research, says in a new analysis that Bitcoin is currently in “the accumulation phase that has preceded every prior advance.” “On a technical basis, the 200-week moving average held, the 50-week moving […]
Bitcoin Eyes $125K as Galaxy Says Bear Market Has Ended
Galaxy sees favorable conditions for bitcoin to retake $125,000, arguing that its bear market ended in June and selling pressure has diminished. Its analysis also cited fiscal pressures and weak investor attention to support its bullish outlook. Galaxy Sees Favorable Setup for $125K Bitcoin Bitcoin had a favorable setup for retaking $125,000, Galaxy argued in […]
Galaxy Report points out that Bitcoin may have already surpassed the worst moment in the low market and sees accumulation opportunity The post Bitcoin buying time? Galaxy says that the low market is over and predicts recovery...
Galaxy Says Accumulate Bitcoin as ETF Holdings Add 87K BTC Since June Low
TL;DR Galaxy says Bitcoin’s bear market ended in June and now offers an accumulation opportunity, citing improved technical structure and reduced selling pressure. U.S. spot Bitcoin ETFs have added 87,000 BTC since the June low, which Galaxy interprets as directional demand rather than leveraged carry activity. A later market reading placed Bitcoin near $80,080, while ...
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