In brief – Galaxy’s Alex Thorn argues Bitcoin bottomed in June and is now in an accumulation phase, calling it “an attractive time to buy and hold bitcoin.” – Bitcoin has closed five straight weeks above its 50-week average, and its market value never fell below its realized…
lue, a first for any bear market. – Thorn cites $40 trillion in federal debt and 5% Treasury yields as fuel for Bitcoin. Galaxy and Thorn disclose holding Bitcoin
Galaxy Digital’s head of research thinks the worst is over for Bitcoin. In a report published Monday, Alex Thorn, Galaxy’s head of firmwide research, argued that Bitcoin’s bear market ended in June and that the asset is now in an accumulation phase. “Our conclusion is simple: we believe now is an attractive time to buy and hold bitcoin,” he wrote. The call comes as Bitcoin struggles for direction.
It traded at around $80,000 on Thursday, 36% below its October 2025 high but 39% above its June 30 low. On Sunday, Bitcoin briefly slipped below $80,000 to about $79,700, according to CoinGecko. Thorn’s case starts with the charts.