Galaxy Digital Analyst: Bitcoin bull run structure is solid but faces key price level risks

Golden Finance reported that Alex Thorn, the research director of Galaxy Digital, stated in an interview with Cointelegraph that the Bitcoin bull run remains solid, but the market is at a “critical node” where emotions can quickly turn. He pointed out that if Bitcoin falls below $100,000, it would trigger significant anxiety and could shake the structural bull market. Thorn mentioned that the recent adjustment in Bitcoin is not due to a deterioration in fundamentals, but is influenced by macro sentiment; in the long term, the growth in institutional demand provides solid support, and the market is entering the “post $100,000 era.” He also believes that Bitcoin is gradually breaking away from the historical four-year cycle, building a more stable foundation, which is reflected in decreased volatility, increased institutional holdings, and slowed passive absorption.