Key facts
- Galaxy Asset Management believes the market has reached a bottom for Bitcoin.
- The firm's analysis suggests limited downside risk from current levels.
- Reclaiming the 50-week moving average historically limits Bitcoin downside to 8.4%.
Galaxy Asset Management believes that the current market conditions present a favorable opportunity to buy Bitcoin, with analyst Alex Thorn stating that "the bottom is in." The firm's assessment is based on historical data indicating that when Bitcoin reclaims its 50-week moving average, its downside risk is historically limited to just 8.4%.