Galaxy's Alex Thorn says Bitcoin's bottom is in after 50-week average reclaim
Galaxy researcher Alex Thorn said in a research note that "we believe the bottom is in," arguing that Bitcoin regaining its 50-week moving average after more than 20 weeks below it has never been followed by a new low, Bitcoin Magazine reported. Thorn also pointed to resilience around $80K and said being long Bitcoin is now contrarian.
Key facts
BTC after this site detected it
- 5 minutes-0.01%Gate · USDT
- 1 hour-0.67%Gate · USDT
Claims and open questions
Only one publisher so far. Another independent outlet or an official source would raise it.
core coin BTC · afterwards moved 4.6× its usual range against BTC
What sources claim
- Galaxy's Alex Thorn said the firm believes Bitcoin's bottom is in, citing the reclaim of the 50-week moving average after more than 20 weeks below it, a setup he says has never been followed by a new low, per Bitcoin Magazine.
- Thorn pointed to Bitcoin's resilience around $80K and argued that being long Bitcoin is now a contrarian position, Bitcoin Magazine reported.
- Thorn described light positioning, saying "the crowd is not here," according to Bitcoin Magazine.
Still unresolved
- What specific price level or timeframe Thorn uses to define a confirmed bottom, and what would invalidate the call, is stated in Galaxy's full research note; its publication would clarify the threshold.
Evidence levels describe source coverage, not the probability that a report is true. Price moves and their timing cannot establish a cause; minute samples show an observed interval and alert thresholds are heuristics. Explanations are model-assisted, with citations and figures checked. Source titles stay in their original language; full articles are not republished.
Source evidence
Published Oct 30, 2026, 13:22 · Received Oct 30, 2026, 13:24
Market reaction after detection
Measured from the sample nearest site detection, on the same source and quote currency.
| Window | Return | Actual sampled interval / source |
|---|---|---|
| 5 minutes | -0.01% | Oct 30, 2026, 13:24 → Oct 30, 2026, 13:29 (UTC) Gate · USDT |
| 1 hour | -0.67% | Oct 30, 2026, 13:24 → Oct 30, 2026, 14:24 (UTC) Gate · USDT |
Timing does not establish causation. Methods and limitations →
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