🚨 BITCOIN’S BEAR MARKET MAY BE OVER — GALAXY RESEARCH EXPLAINS WHY! ₿
Galaxy Research’s Alex Thorn believes Bitcoin’s bear market ended in June and that BTC may now be in an accumulation phase. 👀
📊 What supports this bullish view?
🔹 50-week moving average: Bitcoin recorded five consecutive weekly closes above this key trend indicator through October 18, after spending 44 weeks below it.
🔹 Less selling pressure: The movement of long-dormant Bitcoin has slowed, suggesting fewer older coins are changing hands.
🔹 Long-term opportunity: Galaxy believes the current market conditions could favor patient investors rather than short-term speculation.
⚠️ The key level to watch: $76,540
Galaxy says a weekly close below this level, without recovering within a month, would challenge its bullish outlook.
🔥 My take: Bitcoin’s recovery above a major moving average is encouraging, but the next move is not guaranteed. The Fed’s decision and broader market sentiment could still create volatility.
If BTC holds its recovery, confidence could improve. If it loses key support, another pullback remains possible.
💬 What do you think? Has Bitcoin already formed its bottom, or could we see another dip before the next rally?
#Bitcoin #BTC #CryptoNews
Galaxy Research’s Alex Thorn believes Bitcoin’s bear market ended in June and that BTC may now be in an accumulation phase. 👀
📊 What supports this bullish view?
🔹 50-week moving average: Bitcoin recorded five consecutive weekly closes above this key trend indicator through October 18, after spending 44 weeks below it.
🔹 Less selling pressure: The movement of long-dormant Bitcoin has slowed, suggesting fewer older coins are changing hands.
🔹 Long-term opportunity: Galaxy believes the current market conditions could favor patient investors rather than short-term speculation.
⚠️ The key level to watch: $76,540
Galaxy says a weekly close below this level, without recovering within a month, would challenge its bullish outlook.
🔥 My take: Bitcoin’s recovery above a major moving average is encouraging, but the next move is not guaranteed. The Fed’s decision and broader market sentiment could still create volatility.
If BTC holds its recovery, confidence could improve. If it loses key support, another pullback remains possible.
💬 What do you think? Has Bitcoin already formed its bottom, or could we see another dip before the next rally?
#Bitcoin #BTC #CryptoNews
