🚀 Galaxy says #Bitcoin’s bear market ended in June and conditions favor a return to $125K (Alex Thorn, head of firmwide research) Thorn: “Bitcoin has proven its ability to run to at least $125K” Why: 🔹 $BTC logged 5 straight weekly closes above its 50-week average after 44 weeks below it 🔹 The 53% max drawdown was shallower than in prior bear markets 🔹 Spot ETFs added 87,000 BTC after the June low 🔹 Long-dormant coin movement fell to 34K BTC in 2026, from 67K in 2024 🔹 Stablecoin supply is up 129% since early 2024 to $304B, which he reads as capital staying in crypto The thesis weakens on a weekly close below the 50-week average (~$76.5K) that isn’t recovered within a month, or if ETF holdings fall below 1.22M BTC. $BTC trades near $81K. #Bitcoin #Galaxy #Crypto