Bitcoin’s bull market is intact, but key levels signal risk, says Galaxy Digital analyst

In an interview with Cointelegraph, Galaxy Digital’s head of research explains why Bitcoin is at a pivotal moment, and what could define its next downturn.

Bitcoin’s bull market is holding strong, but a slip under $100,000 could spell trouble, Galaxy Digital’s head of research Alex Thorn told Cointelegraph.

“I think the bull market is structurally intact, but it’s at risk,” Thorn said, noting that the market is at a “pivot point” where sentiment could shift quickly. “If you were to lose 100K now, I think it would create a lot of anxiety that could put that structural bull market in jeopardy.”

Despite the massive Oct. 10 liquidation, he insists that the pullback was not driven by Bitcoin’s fundamentals. “Nothing about Bitcoin’s drop… has been fundamental about Bitcoin,” he said. “It’s really trading like a macro asset.”

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