Alex Thorn: 50-Week Signal Says Bitcoin’s Bottom is In

Alex Thorn, an analyst from Galaxy, has publicly declared that Bitcoin's market bottom is now in. His assessment is primarily based on the cryptocurrency reclaiming its 50-week moving average, a significant technical indicator often used to gauge long-term trends. Additionally, Thorn pointed to Bitcoin's notable resilience at the $80,000 price point as further evidence supporting his call. He highlighted that adopting a long position in Bitcoin currently represents a contrarian strategy.