Galaxy Digital executive says BTC has strong upside momentum

Alex Thorn, head of research at Galaxy Digital, said Bitcoin is showing strong upside momentum. In a post on X, Thorn said Bitcoin is currently trading above its 50-week moving average and added that, in past cases, a break above the 50-week moving average has served as an important signal confirming a bear-market bottom. Thorn added that if Bitcoin closes this week above the 50-week moving average and holds that level as of the weekly close on Sunday, it would further support that view, adding, "this rally is real."