In plain English: Galaxy has shown its hand—the bear market died in June, and now it’s time to scoop up assets. Don’t dismiss it: this isn’t some random hot take. It’s a report by Alex Thorn, Galaxy’s head of research, and it’s titled “Time to Add.”
Yesterday I said to wait for the Fed’s decision, and today we’re still waiting. $BTC touched $81K and then pulled back—neither proving me wrong nor delivering a breakout. But Galaxy has two solid points: $BTC has closed above its 50-week moving average for five straight weeks after spending 44 weeks below it; and it’s now nearly 40% above its June low of under $58K, while CME net longs have fallen 57%. Thorn drew a line in the sand: if the weekly close falls below $76,540 and price can’t recover within a month, this thesis is invalidated.
U.S. consumer confidence hit 91.7 in October, well above expectations of 81, and rose for the first time in four months. $ZEC jumped 8% today, briefly touching $1,320 and moving back above $1,300. But the whole market is waiting for the Fed’s decision at 2 a.m. tonight. Nine in ten are betting on no change; the real drama is what they say about whether rates will be raised in December.
Until $76,540 breaks, don’t scare yourself. If it does, don’t stubbornly hold on either. Just my personal opinion, not financial advice. After tonight’s announcement, will $BTC reclaim $82,500 first, or retest $76,540 first? Pick a side in the comments!
#FOMCWatch #Bitcoin #Galaxy #CryptoNews
Yesterday I said to wait for the Fed’s decision, and today we’re still waiting. $BTC touched $81K and then pulled back—neither proving me wrong nor delivering a breakout. But Galaxy has two solid points: $BTC has closed above its 50-week moving average for five straight weeks after spending 44 weeks below it; and it’s now nearly 40% above its June low of under $58K, while CME net longs have fallen 57%. Thorn drew a line in the sand: if the weekly close falls below $76,540 and price can’t recover within a month, this thesis is invalidated.
U.S. consumer confidence hit 91.7 in October, well above expectations of 81, and rose for the first time in four months. $ZEC jumped 8% today, briefly touching $1,320 and moving back above $1,300. But the whole market is waiting for the Fed’s decision at 2 a.m. tonight. Nine in ten are betting on no change; the real drama is what they say about whether rates will be raised in December.
Until $76,540 breaks, don’t scare yourself. If it does, don’t stubbornly hold on either. Just my personal opinion, not financial advice. After tonight’s announcement, will $BTC reclaim $82,500 first, or retest $76,540 first? Pick a side in the comments!
#FOMCWatch #Bitcoin #Galaxy #CryptoNews
