Cointelegraph·2d ago·neutral

Galaxy Research says Bitcoin's muted top raises the floor, estimates $40K-$46K bottom range

Galaxy Research finds Bitcoin's October 2025 top was unusually muted, with only 2 of 11 topping indicators flashing. This raises the potential floor, with a base-case bottom range of $40,000 to $46,000, though a washout scenario could go lower.

Only 2 of 11 traditional topping indicators triggered at Bitcoin's October 2025 peak, the fewest in any cycle
Bitcoin's MVRV ratio peaked at 2.29, far below prior cycle highs of 2.93 to 5.91
Galaxy estimates a base-case bottom of $40K-$46K, with a washout scenario of $30K-$37K
Only 4 of 13 bottoming signals have triggered so far, suggesting the cycle low may still be ahead
The current drawdown is about 8 months old; prior cycle bottoms formed 12-13 months after the peak

marketImpact 6/10

Why our editor rated this neutral

The research is analytical and data-driven, presenting both upside (higher floor) and downside (washout scenario) possibilities without advocating a bullish or bearish position.

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