Galaxy’s Alex Thorn says Bitcoin bottom is in after 50-week signal

Alex Thorn, Head of Firmwide Research at Galaxy, stated that Bitcoin ’s recent recovery above its 50-week moving average suggests the largest cryptocurrency has established a market bottom. Thorn highlighted that, historically, Bitcoin has never dropped to new cycle lows after regaining this technical level following an extended period below it. Galaxy’s latest research note begins with a direct statement: “We believe the bottom is in.” Thorn emphasized the significance of Bitcoin regaining the 50-week moving average after spending more than 20 consecutive weeks below this level.