Key Highlights

  • Galaxy's research head says Bitcoin's bear market has ended, with the low near USD 58,000 in June, a view reported on October 28, 2026 from a firm that also trades and invests in crypto.
  • The case rests on Bitcoin trading back above its 50-week moving average and on a price near USD 81,000, about 39.8% above the June low, simple arithmetic on two quoted levels.
  • Galaxy Digital (NASDAQ:GLXY) is itself a Tuesday reporter, so the research view arrives around the company's own earnings, though the results were not retrieved and are not described here.
  • The call is an opinion and an accumulation-phase argument, not a forecast, and Bitcoin is still about 36.7% below its USD 128,198 record from October 6, 2025.

The Call

Galaxy's head of research says the bear market in Bitcoin (BTC) has ended, placing the low in June near USD 58,000, according to a report dated October 28, 2026. The case is technical: Bitcoin is back above its 50-week moving average, a line that averages weekly closes over about a year and is often used to separate bull and bear phases. With the price near USD 81,087, the rise from the June low is about 39.8%, simple arithmetic on two quoted levels. The research comment describes what is called an accumulation phase, when buyers return gradually after a decline. Galaxy has also argued in earlier research that Bitcoin's cycles follow patterns in ETF demand and liquidity, which informs the framing.

Why the Author Matters

Galaxy Digital (NASDAQ:GLXY) is a digital asset firm that earns from trading, asset management and related services, so its revenue depends on crypto activity. That gives its research team a business interest in a constructive outlook, which is no reason to dismiss the view but a reason to read it as one opinion among several. The company is also a Tuesday reporter, though its results were not retrieved for this article. Bitcoin is still about 36.7% below its record of USD 128,198 from October 6, 2025, so even if the low is in, the market has regained only part of the fall. Independent analysts may weigh the same evidence differently, and some will argue that a bear market is confirmed only after a new high.

Risks and What to Watch

A moving average is a lagging indicator, and prices can cross back below it. A daily close above USD 82,500 is the next signal cited by traders, while the Federal Reserve decision at 2:00 p.m. ET on October 28 could change risk appetite. Spot Bitcoin ETFs took in USD 110.34 million, helpful but small, and exchange outflows hit a five-week high of 14,942 BTC. Watch the results of Galaxy Digital (NASDAQ:GLXY), ETF flows, the dollar and Treasury yields, which were near 4.995% for the 10-year. No one can confirm a bottom until time has passed. History also shows failed rallies in Bitcoin that crossed the moving average and then fell back, so confirmation needs time.

Where Things Stand

The answer is that Galaxy's research head sees a bear market that ended in June near USD 58,000 because Bitcoin is above its 50-week moving average, but the view comes from a firm with a stake in crypto and is not proof. The next catalysts are the results of Galaxy Digital (NASDAQ:GLXY), the Fed decision on October 28 and a close above USD 82,500. This is not investment advice. Readers should compare the view with other research.