The Currency analytics
By Evie Vavasseur
Bitcoin's slide isn't over yet. Galaxy Digital's head of research Alex Thorn told clients the crypto could drift toward $70,000 and maybe hit the 200-week moving average near…
The world's largest cryptocurrency fell roughly 15% from January 28 to January 31, with Saturday's brutal 10% drop triggering over $2 billion in liquidations across derivatives…
Thorn said roughly 46% of Bitcoin's circulating supply now sits underwater. That's the kind of stuff you see in late-stage bear markets, and it usually means more downside ahead.
Bitcoin's realized price sits near $56,000, while the 200-week moving average hovers around $58,000.
But here's what's really bothering analysts: Bitcoin can't rally with gold and silver despite economic uncertainty.
Some optimism exists though. Long-term holder selling averaged $500 million per day in 2025 but started decreasing recently.
Market watchers remember 2020 when capital rotated from gold into Bitcoin, sparking a major rally.
Galaxy Digital stays cautious for now. Thorn said concrete evidence of a market bottom remains elusive, but if Bitcoin revisits its realized price or the 200-week moving average,…
Institutional interest adds another wrinkle. Some institutions paused or cut their Bitcoin exposure amid the volatility, while others view big corrections as strategic entry…
The correlation breakdown with traditional assets raises questions too. Bitcoin historically moved with gold during economic stress, but the current divergence - gold gaining…
As February moves forward, crypto stakeholders watch for macroeconomic shifts that could impact Bitcoin's path.
Galaxy Digital remains vigilant, assessing market data and historical trends to gauge Bitcoin's recovery points.
For now, Bitcoin hovers around these critical thresholds while traders wait for clearer signals.
Bitcoin closed Friday near $76,000, still searching for direction.
The Federal Reserve's recent hawkish stance on interest rates compounds Bitcoin's struggles.