Galaxy Research: Bitcoin Bear Market Ends, Cites Attractive Accumulation Phase

Key Facts

Galaxy Research reported that the Bitcoin bear market effectively ended in June, according to a report published by Decrypt. Alex Thorn, the firm's head of research, stated that the asset has entered an accumulation phase representing an attractive buy-and-hold opportunity, citing the price reclamation of the 50-week moving average.

The assessment highlighted fading selling pressure from long-term holders, with dormant coins unmoved for five years or more being sold at a rate of 34,000 BTC per month, half the 2024 pace. The report noted Bitcoin was trading at approximately $80,000 on October 22, 2026, marking a 39% increase from its June low, supported by spot Bitcoin ETFs adding 87,000 BTC since that period.