Bitcoin▲ Bullish

Galaxy's Alex Thorn Says Bitcoin's Bottom Is In

TradingGain Newsroom·16h ago·28 Oct 2026, 13:35 UTC

Galaxy's Alex Thorn says Bitcoin has hit its bottom. He points to the 50-week moving average, which he says has historically capped Bitcoin's downside at 8.4% once price moves back above it. For traders, this is a bullish view that could shape how they manage risk.

BTCAt the time of writing, Bitcoin traded at $80,714 (+0.65% in 24h).Live price →

Why it matters

Galaxy's Alex Thorn believes the bottom for Bitcoin is already in.
Reclaiming the 50-week moving average has historically limited Bitcoin's downside to 8.4%.
The view gives traders a specific technical level to track for possible entries.

What to watch next

Watch whether Bitcoin reclaims its 50-week moving average, since that is the level Thorn links to limited downside.

BTCLive chartOpen full chart →

This brief is written by TradingGain from public reporting by Bitcoin Magazine.Read original ↗

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