PANews reported on February 3rd that Alex Thorn, Head of Research at Galaxy Digital , analyzed that Bitcoin's recent price weakness, with a 15% drop between JanuaryPANews reported on February 3rd that Alex Thorn, Head of Research at Galaxy Digital , analyzed that Bitcoin's recent price weakness, with a 15% drop between January

Galaxy Digital: Bitcoin may test the 200-week moving average of $58,000 within months.

2026/02/03 08:23
2 min read

PANews reported on February 3rd that Alex Thorn, Head of Research at Galaxy Digital , analyzed that Bitcoin's recent price weakness, with a 15% drop between January 28th and 31st, including a sharp 10% single-day decline on January 31st, triggered over $2 billion in long contract liquidations. Bitcoin's price fell to a low of $75,644, breaking below the average cost price of $84,000 for the US Bitcoin ETF and approaching the annual low of $74,420 reached in April 2025. Currently, 46% of the Bitcoin supply is at a loss.

Analysts suggest that Bitcoin could further decline to the bottom of the supply gap around $70,000, and even test the 200-week moving average (approximately $58,000) and the realized price (approximately $56,000). These two price levels historically typically mark cycle bottoms and offer strong entry opportunities for long-term investors.

Furthermore, while profit-taking by long-term holders has slowed, there are no signs of large-scale accumulation by whales or long-term holders in the market. The report also notes that Bitcoin's recent failure to rise in tandem with traditional safe-haven assets like gold and silver weakens its narrative as a "currency devaluation hedge." Analysts believe that Bitcoin may continue to face downward pressure in the coming weeks and months, but long-term investors can look for entry opportunities at key support levels.

Disclaimer: The articles reposted on this site are sourced from public platforms and are provided for informational purposes only. They do not necessarily reflect the views of MEXC. All rights remain with the original authors. If you believe any content infringes on third-party rights, please contact service@support.mexc.com for removal. MEXC makes no guarantees regarding the accuracy, completeness, or timeliness of the content and is not responsible for any actions taken based on the information provided. The content does not constitute financial, legal, or other professional advice, nor should it be considered a recommendation or endorsement by MEXC.

You May Also Like

FCA komt in 2026 met aangepaste cryptoregels voor Britse markt

FCA komt in 2026 met aangepaste cryptoregels voor Britse markt

De Britse financiële waakhond, de FCA, komt in 2026 met nieuwe regels speciaal voor crypto bedrijven. Wat direct opvalt: de toezichthouder laat enkele klassieke financiële verplichtingen los om beter aan te sluiten op de snelle en grillige wereld van digitale activa. Tegelijkertijd wordt er extra nadruk gelegd op digitale beveiliging,... Het bericht FCA komt in 2026 met aangepaste cryptoregels voor Britse markt verscheen het eerst op Blockchain Stories.
Share
Coinstats2025/09/18 00:33
Cashing In On University Patents Means Giving Up On Our Innovation Future

Cashing In On University Patents Means Giving Up On Our Innovation Future

The post Cashing In On University Patents Means Giving Up On Our Innovation Future appeared on BitcoinEthereumNews.com. “It’s a raid on American innovation that would deliver pennies to the Treasury while kneecapping the very engine of our economic and medical progress,” writes Pipes. Getty Images Washington is addicted to taxing success. Now, Commerce Secretary Howard Lutnick is floating a plan to skim half the patent earnings from inventions developed at universities with federal funding. It’s being sold as a way to shore up programs like Social Security. In reality, it’s a raid on American innovation that would deliver pennies to the Treasury while kneecapping the very engine of our economic and medical progress. Yes, taxpayer dollars support early-stage research. But the real payoff comes later—in the jobs created, cures discovered, and industries launched when universities and private industry turn those discoveries into real products. By comparison, the sums at stake in patent licensing are trivial. Universities collectively earn only about $3.6 billion annually in patent income—less than the federal government spends on Social Security in a single day. Even confiscating half would barely register against a $6 trillion federal budget. And yet the damage from such a policy would be anything but trivial. The true return on taxpayer investment isn’t in licensing checks sent to Washington, but in the downstream economic activity that federally supported research unleashes. Thanks to the bipartisan Bayh-Dole Act of 1980, universities and private industry have powerful incentives to translate early-stage discoveries into real-world products. Before Bayh-Dole, the government hoarded patents from federally funded research, and fewer than 5% were ever licensed. Once universities could own and license their own inventions, innovation exploded. The result has been one of the best returns on investment in government history. Since 1996, university research has added nearly $2 trillion to U.S. industrial output, supported 6.5 million jobs, and launched more than 19,000 startups. Those companies pay…
Share
BitcoinEthereumNews2025/09/18 03:26
Trump foe devises plan to starve him of what he 'craves' most

Trump foe devises plan to starve him of what he 'craves' most

A longtime adversary of President Donald Trump has a plan for a key group to take away what Trump craves the most — attention. EX-CNN journalist Jim Acosta, who
Share
Rawstory2026/02/04 01:19