--- title: "Galaxy's Alex Thorn says Bitcoin's bottom is in after 50-week average reclaim" description: "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…" language: en canonical: "https://whycoinmoves.com/en/events/bitcoin-alex-thorn-50-week-signal-b1a0bb15173920" published: 2026-10-30T13:24:06.000Z updated: 2026-10-30T14:25:00.000Z indexable: true --- # 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… Attributed sources: [Bitcoin Magazine]() ## Key facts 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. Evidence strength: Single source, 1 publisher group(s) (Bitcoin Magazine). After site detection, observed returns were 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) In the preceding 30 days, the 99th percentile of absolute hourly returns was 1.23% (OKX · USDT; cutoff Oct 30, 2026, 13:24, UTC). ## Returns after site detection | Window | Return | BTC | Difference from BTC | Actual sampled interval (UTC) | Source | | --- | --- | --- | --- | --- | --- | | 5 minutes | -0.01% | -0.01% | 0.00 pp | Oct 30, 2026, 13:24 → Oct 30, 2026, 13:29 | Gate · USDT | | 1 hour | -0.67% | -0.67% | 0.00 pp | Oct 30, 2026, 13:24 → Oct 30, 2026, 14:24 | Gate · USDT | ## Historical hourly baseline | Metric | Value | | --- | --- | | Coverage | 100.0% (720/720) | | Median absolute hourly return | 0.14% | | 99th percentile of absolute hourly returns | 1.23% | | BTC beta | 1.00 | | Source / cutoff (UTC) | OKX · USDT / Oct 30, 2026, 13:24 | ## Claims and open questions - 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. - 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. ## Source evidence - [Alex Thorn: 50-Week Signal Says Bitcoin’s Bottom is In]() — Bitcoin Magazine; published Oct 30, 2026, 13:22; received Oct 30, 2026, 13:24 (UTC). ## Recent BTC events and market reactions - [SEC charges two companies over $130 million crypto investment scheme]() — Published Oct 30, 2026, 14:38 (UTC) · Single source (1 publisher) · Regulation · 5m +0.00% / 1h +0.78% - [Analysts keep buy ratings on Strategy after preferred-stock changes]() — Published Oct 30, 2026, 14:30 (UTC) · Single source (1 publisher) · General news · 5m +0.21% / 1h +0.79% - [Chainalysis and TRM Labs link $6.3 billion Binance hack to North Korea's TraderTraitor]() — Published Oct 30, 2026, 14:13 (UTC) · Single source (1 publisher) · Security · 5m +0.23% / 1h +1.42% - [Doomberg calls US Treasury pressure on central banks wildly bullish for Bitcoin]() — Published Oct 30, 2026, 13:26 (UTC) · Single source (1 publisher) · Regulation · 5m -0.22% / 1h -0.58% - [Bitcoin holds above $76,000 after $6.3 billion Binance hack]() — Published Oct 30, 2026, 11:29 (UTC) · Single source (1 publisher) · Security · 5m -0.19% / 1h -0.35% - [Full coin archive]() ## Research for this archive - [Altcoin beta to Bitcoin: BTC, ETH, SOL and DOGE hourly returns]() - [Will Bitcoin go back up? Every crash since 2011 and its recovery time]() - [Perpetual funding rates and annualized yield: a 2025 comparison]() - [Bitcoin halving and bull markets: evidence from four halvings]() 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. [Methods and limitations]()