According to CoinMeta, Alex Thorn, the research director of Galaxy Research, stated in a report that the bear market for Bitcoin has ended in June, and now is the time to buy and hold. The reasons for this include: as of October 18th, Bitcoin has closed above its 50-week moving average for five consecutive weeks. The average monthly volume of Bitcoin in wallets that have not been moved for over five years decreased from 67,000 in 2024 to 47,000 in 2025, and to 34,000 in 2026. Since October 2024, approximately 1.11 million BTC have been moved. The scale of the US federal debt has reached 40.44 trillion dollars. Thorn indicates that the bottom has been reached, selling pressure has weakened, and the logic for hedging against depreciation has strengthened. Bitcoin traded above $80,000 on Monday, which is about 36% lower than the record high of around $126,000 in October 2025. If the weekly closing price falls below the 50-week moving average of $76,540 and cannot recover within a month, this bullish outlook will be challenged.