Galaxy says bitcoin bear market is over; now is the time to buy and hold

What happened

Galaxy Research argued investors should buy and hold bitcoin, saying long-term holder selling has slowed and the price has closed above its 50-week moving average for five straight weeks. Bitcoin traded above $80,000 on Monday, still about 36% below its October 2025 record of roughly $126,000.

Confirmed

Global impact / market context

Galaxy's stance suggests sellers of old coins are fading, which could reduce the supply of bitcoin available to buyers. If demand holds, that tighter supply could support prices. For investors, it signals a case for holding rather than selling after the large drop from the record.

Analyst inference

Bitcoin has reborn above a technical line that tracks its average price over 50 weeks, which means its recent trend has turned up. Longer-term wallets moved fewer coins in 2026 than in prior years, while exchange-traded funds and public treasury companies took in much of that sold supply.

Analyst inference

What to watch

1. Watch whether bitcoin keeps closing above its 50-week moving average, a line tracking its average price over 50 weeks, since it has now done so five weeks in a row. Confirmed
2. Galaxy's buy-and-hold recommendation should be judged against whether selling from wallets untouched for five or more years continues to slow, as its thesis depends on that. Proposed
3. Track how much sold bitcoin exchange-traded funds and public treasury companies absorb, because weaker buying from them could remove support for prices if older holders resume selling. Analyst inference

Affected assets

• BTC — Bitcoin

Evidence

• theblock.co