Galaxy Digital Sees Bitcoin Bear Market Over, Accumulation Phase Under Way
Bitget2026/10/26 18:44- Galaxy Digital's Oct. 22, 2026, analysis favored buying and holding bitcoin, citing a June market bottom and reduced selling pressure.
- Bitcoin traded at $81,391 on Oct. 22, 35% below its October 2025 high; regaining that peak would require a 53% rise.
- Five consecutive weekly closes above the 50-week moving average supported the recovery thesis; U.S. spot ETFs added 87,000 BTC since June's low.
- Federal debt of $40.44 trillion reinforced the analysis's currency-debasement thesis, supporting demand for bitcoin's fixed supply.
- A weekly close below $76,540 without recovery within a month would challenge the outlook, as would ETF holdings below 1,220,000 BTC.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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