--- title: "Galaxy Research says bitcoin's bear market ended at the June low" description: "Galaxy Research, in a report by head of firmwide research Alex Thorn, said bitcoin's bear market ended at the June low and that the asset is in an accumulation phase, writing that now is an attractive time to buy and hold bitcoin. Decrypt reported bitcoin traded near $80,000, 36% below its October…" language: en canonical: "https://whycoinmoves.com/en/events/bitcoin-bitcoin-s-bear-market-over-15971c4f7772ba" published: 2026-10-26T13:01:17.000Z updated: 2026-10-26T14:54:01.000Z indexable: true --- # Galaxy Research says bitcoin's bear market ended at the June low Galaxy Research, in a report by head of firmwide research Alex Thorn, said bitcoin's bear market ended at the June low and that the asset is in an accumulation phase, writing that now is an attractive time to buy and hold bitcoin. Decrypt reported bitcoin traded near $80,000, 36% below its October… Attributed sources: [Decrypt](), [The Block](), [Bitcoin Magazine]() ## Key facts Galaxy Research, in a report by head of firmwide research Alex Thorn, said bitcoin's bear market ended at the June low and that the asset is in an accumulation phase, writing that now is an attractive time to buy and hold bitcoin. Decrypt reported bitcoin traded near $80,000, 36% below its October 2025 high and 39% above the June 30 low. Evidence strength: Multiple publishers, 3 publisher group(s) (Decrypt, The Block, Bitcoin Magazine). After site detection, observed returns were 5 minutes: -0.09% (26/10/2026, 13:01 → 26/10/2026, 13:06, UTC; Gate · USDT); 1 hour: -0.72% (26/10/2026, 13:01 → 26/10/2026, 14:01, UTC; Gate · USDT) In the preceding 30 days, the 99th percentile of absolute hourly returns was 1.01% (OKX · USDT; cutoff 26/10/2026, 13:01, UTC). ## Returns after site detection | Window | Return | BTC | Difference from BTC | Actual sampled interval (UTC) | Source | | --- | --- | --- | --- | --- | --- | | 5 minutes | -0.09% | -0.09% | 0.00 pp | 26/10/2026, 13:01 → 26/10/2026, 13:06 | Gate · USDT | | 1 hour | -0.72% | -0.72% | 0.00 pp | 26/10/2026, 13:01 → 26/10/2026, 14:01 | Gate · USDT | ## Historical hourly baseline | Metric | Value | | --- | --- | | Coverage | 100.0% (720/720) | | Median absolute hourly return | 0.14% | | 99th percentile of absolute hourly returns | 1.01% | | BTC beta | 1.00 | | Source / cutoff (UTC) | OKX · USDT / 26/10/2026, 13:01 | ## Claims and open questions - Galaxy Research said bitcoin's bear market ended at the June low, writing "we believe now is an attractive time to buy and hold bitcoin," per Decrypt, which reported bitcoin traded near $80,000, 36% below its October 2025 high and 39% above the June 30 low. - Galaxy said bitcoin spent 44 weeks below its 50-week moving average before reclaiming it in September, and the week ended Oct. 18 was its fifth consecutive weekly close above that line, according to Decrypt. - Galaxy cited a 53% drawdown as the shallowest on record and said bitcoin's market value never fell below its realized value for the first time in a bear market, with the ratio bottoming at 1.10, Decrypt reported. - What specific follow-up data, such as sustained closes above the 50-week moving average or renewed ETF inflows, Galaxy would treat as confirming that the accumulation phase it describes is intact rather than a failed reclaim. - How Galaxy's cited 53% drawdown and the 1.10 market-to-realized value ratio are calculated and at which date the metric was measured; the full methodology would confirm the figures. ## Source evidence - [Bitcoin’s Bear Market Is Over, Galaxy Research Says: 'Now Is an Attractive Time to Buy']() — Decrypt; published 26/10/2026, 13:01; received 26/10/2026, 13:01 (UTC). - [Galaxy says bitcoin bear market is over; now is the time to buy and hold]() — The Block; published 26/10/2026, 13:00; received 26/10/2026, 13:03 (UTC). - [Bitcoin’s Bear Market Is Over, Galaxy Says]() — Bitcoin Magazine; published 26/10/2026, 14:44; received 26/10/2026, 14:48 (UTC). ## Recent BTC events and market reactions - [South Korea weighs fourth delay of 22% crypto tax to 2029]() — Published 26/10/2026, 14:06 (UTC) · Single source (1 publisher) · General news · 5m +0.31% / 1h +0.98% - [Strategy pauses bitcoin purchases, spends $204.9 million buying back STRC]() — Published 26/10/2026, 13:23 (UTC) · Multiple publishers (4 publishers) · General news · 5m -0.24% / 1h -0.03% - [Bitcoin Magazine video examines Bitcoin exposure after PHP flaws take sites offline]() — Published 26/10/2026, 13:21 (UTC) · Single source (1 publisher) · Security · 5m -0.30% / 1h +0.12% - [Bitcoin falls below $80,000 as tech sell-off and ETF outflows weigh on risk assets]() — Published 26/10/2026, 13:02 (UTC) · Single source (1 publisher) · Market watch · 5m -0.07% / 1h -0.72% - [Strive buys 6,182 bitcoin for $511.4 million, lifting holdings to 43,000 BTC]() — Published 26/10/2026, 12:24 (UTC) · Multiple publishers (2 publishers) · General news · 5m +0.11% / 1h -0.50% - [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]()