Galaxy Research Head of Research Alex Thorn was blunt in an October 26 client report: he believes this bear market in $BTC bottomed around June 30 and is now in an accumulation phase, calling this “an attractive time to buy and hold Bitcoin.” Both Galaxy and Thorn personally disclosed that they hold Bitcoin.
His case rests mainly on a few points: for the week ending October 18, $BTC had closed above its 50-week moving average for five consecutive weeks; selling pressure from coins dormant for more than five years had eased; and U.S. spot Bitcoin ETFs had added a net total of about 87,000 BTC since their June low. He also noted that Bitcoin “has already proved it can reach at least $125,000, and we see no reason why it can’t get back there.” He also clearly stated what would invalidate the thesis: if the weekly price falls back below the 50-week moving average, at around $76,500, and fails to recover it within a month, the bullish framework would need to be reassessed.
On the evening of October 27 (UTC+8), Binance spot $BTC was hovering around $79,600, leaving some room above that invalidation level, while the market awaited the Fed’s October 28–29 meeting. The report reflects an institutional view, not a trading instruction; keeping the bottoming date, the $125,000 claim, and the invalidation level in mind is more prudent than rushing in on the back of a slogan.
#BTC #行情 #美联储 does not constitute investment advice
His case rests mainly on a few points: for the week ending October 18, $BTC had closed above its 50-week moving average for five consecutive weeks; selling pressure from coins dormant for more than five years had eased; and U.S. spot Bitcoin ETFs had added a net total of about 87,000 BTC since their June low. He also noted that Bitcoin “has already proved it can reach at least $125,000, and we see no reason why it can’t get back there.” He also clearly stated what would invalidate the thesis: if the weekly price falls back below the 50-week moving average, at around $76,500, and fails to recover it within a month, the bullish framework would need to be reassessed.
On the evening of October 27 (UTC+8), Binance spot $BTC was hovering around $79,600, leaving some room above that invalidation level, while the market awaited the Fed’s October 28–29 meeting. The report reflects an institutional view, not a trading instruction; keeping the bottoming date, the $125,000 claim, and the invalidation level in mind is more prudent than rushing in on the back of a slogan.
#BTC #行情 #美联储 does not constitute investment advice
