Bitcoin’s bull market is intact, but key levels signal risk, says Galaxy Digital analyst

Alex Thorn, Galaxy Digital's head of research, stated in an interview that Bitcoin's bull market remains structurally intact but is currently at a critical pivot point where sentiment could rapidly change. He warned that a drop below the $100,000 level could introduce significant anxiety and jeopardize the existing structure. Thorn dismissed the recent market pullback as not being fundamentally driven, asserting that Bitcoin is currently trading like a macro asset. He maintains that the long-term market structure is supported by increasing institutional demand, characterizing the current phase as a "post-100K era" with a growing passive bid. Furthermore, he does not believe Bitcoin still adheres to its historical four-year cycle, noting the market is building a stronger base defined by lower realized volatility and slower, institutional-led accumulation.

(Source：Cointelegraph)