Galaxy opened a new research note with a direct call: “We believe the bottom is in.” In a Bitcoin Magazine video segment, Galaxy research head Alex Thorn laid out the case, starting with one signal in particular. He said that after Bitcoin spends more than 20 weeks below its 50-week moving average and then reclaims that level, it has historically never gone on to set a new low.
Thorn also explained why Bitcoin’s resilience around $80,000 matters. He added that saying long Bitcoin right now is, in his view, the contrarian trade.
Topics covered in the episode
The chapter list attached to the program shows the discussion moved across several market and macro themes:
- 00:00 — Bitcoin at $81K after the Fed: is the bottom in?
- 00:38 — Galaxy’s 50-week moving average signal
- 02:10 — Bitcoin’s resilience around $80K amid AI fears
- 02:54 — Light positioning: “The Crowd Is Not Here”
- 04:17 — 13F filings: hedge funds out, sovereigns and wealth managers in
- 06:15 — Tokenization hype, the narrative pendulum and the basis trade
- 10:06 — Strategy’s daily dividends, Strive and tonight’s earnings call
- 12:27 — Why the AI build-out is a debasement machine
- 16:11 — U.S. debt, fiscal dominance and Bitcoin as digital gold
- 19:21 — AI cyber attacks, hardware wallets and multisig
Disclaimer and byline
The program said the views and opinions expressed were those of the participants and did not necessarily reflect the official policy or position of BTC Inc., Bitcoin Magazine, or affiliated entities. It also said the content was provided for informational and educational purposes only and should not be treated as investment, legal, tax, or accounting advice. Nothing in the show constituted a solicitation, recommendation, endorsement, or offer to buy or sell securities or financial instruments. Viewers were advised to consult their own advisors before making financial or business decisions.
The post first appeared on Bitcoin Magazine and was written by Patrick Green.
