Galaxy Research Declares Bitcoin Bear Market Over as Price Holds Above Key Support

Bitcoin traded near $80,000 after slipping below the mark ahead of an upcoming Federal Reserve decision, remaining about 4% above a critical $76,540 technical floor. Galaxy Research announced that Bitcoin's bear market concluded at its June low, transitioning the asset into an accumulation phase that could eventually target $125,000. The bullish outlook follows five straight weekly closes above Bitcoin's 50-week moving average after a 44-week downtrend, alongside seller exhaustion. U.S. spot Bitcoin ETFs added 87,000 BTC since June, despite recent two-day outflows of $773.5 million, while hedge-fund basis trades substantially unwound.