Galaxy Research: Bitcoin bear market ended in June, accumulation phase underway

[sergiorus]

Galaxy Research said Bitcoin’s bear market ended in June 2026 and the asset is now in an accumulation phase, with BTC closing above its 50-week moving average for five consecutive weeks.

Monthly transfers from coins held for more than five years have fallen to about 34,000 BTC from 67,000 in 2024, suggesting reduced selling pressure from long-term holders.

Galaxy said the bullish view would weaken if Bitcoin falls below its roughly $76,540 50-week moving average and fails to reclaim it within a month.

Why Now Is the Time to Add and Hold BTC

Summary:
1. Technical: we believe the bottom is in and accumulation is under way
2. Positioning: the fast money has left, the base stayed, and everything else is priced for perfection
3. Fundamental: the debasement case is stronger than it was at the high
4. Sentiment: the pendulum has swung to “blockchain, not bitcoin” for the third time since I’ve been in the market

Source: https://www.galaxy.com/insights/research/why-now-bitcoin-buy-hold-2026

[Oshosondy]

With what happened since June to now, I think this is true. But during the accumulation phase, people should be expecting some drawdowns at times, but there is no possibility that bitcoin is ever going back to $60000. I have posted about this times without numbers and I still think my opinion is still valid.

[aoluain]

Thats probably a fair synopsis. I couldnt verify if it was actually since June but we are probably
into the accumulation in-between phase (between bear and bull markets)

but there is no possibility that bitcoin is ever going back to $60000.

IDK about that call TBH. I believe all markets could suffer from a short term shock based on what
plays out in the world if global geopolitics, especially if the war on Iran enters into a new phase
and / or Europe actually in a stupid way decides to declare war on Russia. So no I wouldnt say
'never' in this regard, but that all depends on the timing of course.

[buwaytress]

Don't disagree, but I still feel there's not enough catastrophe yet in the bear. If I say it will do what Galaxy says it shouldn't (go below 76500 and fail to reclaim within a week) might I be a genius? Because my genius forewarning brain says there's still plenty of time and opportunity for that to happen.

But sure, TA. Who knows?

[Hatchy]

 
I can't really say the bear market is over, but we can see that the bulls have been in control for the past few weeks. We ended September with strong bullish momentum that pushed the price above its resistance zones. As far as I'm concerned, this is enough reason to believe that the bulls are trying to take control of the market.I noticed this bullish momentum on the 3 month timeframe, where the price bounced off a trendline it had respected several times in the past. That was how I developed my confluences.but then again, we can't predict the future, as many other factors can still influence the price. Despite this uncertainty, I'm optimistic that we will end the year on a bullish note.

[Aliciaworld]

A friend showed this to me over the weekend on the BTCUSDT monthly time frame, He believes strongly that the bear market has come to an end but I am skeptical mostly because I want a bigger dip so I can buy.

He thinks I'm selfish 😂😂

[Aanuoluwatofunmi]

Galaxy Research said Bitcoin’s bear market ended in June 2026 and the asset is now in an accumulation phase, with BTC closing above its 50-week moving average for five consecutive weeks.

The idea is very simple to understand, buy the dip and hold, discover a particular strategy to use in accumulation and try as much as possible to afford investing in Bitcoin because of the future opportunity in it when the market begins to pump, this is when now is the best time to accumulate, hold and ensure that you are using a non-custodial storage to assets after investing.

[Frankolala]

Just because the monthly transfer of coins held over five years has reduced doesn't mean that these investors were selling their moved coins back in 2024. They might be moving them to a new and safer wallet. However, as for the bear market coming to an end, it's possible because bitcoin price has being on a sideways movement for quite some time. The price is now at $79k+ and there is possibility that it can dip below $76k. It's only a speculation and not fact.

[_act_]

Don't disagree, but I still feel there's not enough catastrophe yet in the bear. If I say it will do what Galaxy says it shouldn't (go below 76500 and fail to reclaim within a week) might I be a genius? Because my genius forewarning brain says there's still plenty of time and opportunity for that to happen.

But sure, TA. Who knows?

Exactly my thought

This your post will be merged with the upper one. Did you see anyone making two posts in a roll? If you do not see people making two posts in a role, then why did you do that.

I think this is a good speculation in my opinion. But any direction bitcoin is going to, DCA will be very good. If the price of bitcoin do not rise fast, we all know that it will still increase later.

I do not think the price of bitcoin will really fall much even if it falls below $80000.

[Mrbluntzy]

Prediction in some website is still saying that Bitcoin will fall below $60k while some says that the bear market is already over, anything can happen, even though price have been going up since June, it's not totally impossible for price to retest the bottom or even create a new bottom price. No prediction is guarantee, just buy and hold for the next bull season but to assume that bottom is over could be wrong or right.

[EL MOHA]

Prediction in some website is still saying that Bitcoin will fall below $60k while some says that the bear market is already over, anything can happen, even though price have been going up since June, it's not totally impossible for price to retest the bottom or even create a new bottom price. No prediction is guarantee, just buy and hold for the next bull season but to assume that bottom is over could be wrong or right.

Just like you have pointed it out no prediction is absolutely true but there certainly underlining data that actually analysts use to analyze the market to determine that certain trends are not happening again. But like you wrote none is guaranteed to be absolutely true or perfect.

For me I agree with the Galaxy research because with the current sentiment of the market except there happens to come by a very bad economic situation like a massive war breaking out I don’t think we will revisit certain prices soon again and that’s like bitcoin actually breaking below the current year bottom of $59000, I think the market sentiment is well place to stay very well above that.

Plus this is definitely an accumulation period which can also be identified as also consolidation period with the next leg up been an upward trend

[Oshosondy]

Prediction in some website is still saying that Bitcoin will fall below $60k while some says that the bear market is already over

Is this surprising you? I am very use to it. People that have years of experience in crypto are also use to it. As some analysts and traders will be predicting north direction for bitcoin price, some analysts and traders will be predicting south direction for bitcoin price.

But what I read more of is that bitcoin price may still later go up. We are at the consolidation stage.

anything can happen, even though price have been going up since June, it's not totally impossible for price to retest the bottom or even create a new bottom price. No prediction is guarantee, just buy and hold for the next bull season but to assume that bottom is over could be wrong or right.

This is true, but I do not think bitcoin is going to $60000 ever again.

[Dickiy]

anything can happen, even though price have been going up since June, it's not totally impossible for price to retest the bottom or even create a new bottom price. No prediction is guarantee, just buy and hold for the next bull season but to assume that bottom is over could be wrong or right.

This is true, but I do not think bitcoin is going to $60000 ever again.

IMO view is that the bearish market still has a chance to continue, this is a phase that is quite confusing given the global economic conditions that continue to be suppressed. The scenario of bitcoin below $70K to $60K cannot be ignored. In the end, one source from Galaxy Research had to be balanced with a variety of additional information to prepare for some unexpected possibilities.