Galaxy Research Says Bitcoin Bottom Is Not In, Projects $40K–$46K Base-Case Floor by Late 2026

TLDR: Galaxy Research says only 4 of 13 historical bottom indicators have triggered in the current drawdown. The firm projects a base-case Bitcoin floor of $40K–$46K, with a harsh washout scenario near $30K–$37K. October 2025 marked Bitcoin’s calmest cycle top ever, with MVRV reaching just 2.29 against prior highs of 5.91. The cost basis sits [...]

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