Bitcoin’s Bear Market Is Over, Galaxy Research Says: 'Now Is an Attractive Time to Buy'

Galaxy Research says Bitcoin’s bear market ended in June, pointing to a reclaimed 50-week moving average, fading selling pressure, and a strengthening debasement case.

The top 3

  1. Technical and Positioning Indicators: Galaxy Research points to the reclamation of the 50-week moving average as a primary signal, noting that similar recoveries historically preceded long-term price appreciation. Furthermore, the exodus of 'fast money'—specifically basis traders and macro hedge funds—has improved market health, leaving behind a more resilient investor base.
  2. Fundamental and Macroeconomic Drivers: The investment case is anchored in U.S. fiscal concerns, specifically the $40.44 trillion federal debt and persistent deficits, which Galaxy argues necessitate currency debasement. Bitcoin is viewed as a beneficiary of this environment, as investors move away from fiat assets toward fixed-supply stores of value.

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