Galaxy Research believes bitcoin’s bear market ended in June and that the asset has entered an accumulation phase, according to a research alert from the firm.  “We believe now is an attractive time to buy and hold bitcoin,” the report said.

Bitcoin traded near $80,000 at the time of the note, about 35% below its October 2025 high and 39% above the June 30 low. The price would need to rise 53% to retake the previous record. The S&P 500, by comparison, sits within 1% of a record set on Oct. 6.

The report lays out four arguments: technical, positioning, fundamental and sentiment.

Bitcoin technicals

Galaxy uses two weekly moving averages to track bitcoin’s bear…

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