Bitcoin’s Safety Net Comes into View as Galaxy Digital Warns of Deeper Pullback

Bitcoin’s sharp late-January sell-off has intensified debate over whether the market is approaching a cyclical bottom—or merely entering the next leg lower. According to Galaxy Digital’s head of research, Alex Thorn, recent price action suggests downside risks remain elevated, with Bitcoin potentially drifting toward long-term technical support levels in the weeks or months ahead. Galaxy Digital Warns Bitcoin Could Drift Toward Long-Term Support Near $58,000 In a research note sent to Galaxy clients, Thorn said the Bitcoin price is likely to drift lower, towards $70,000, then potentially down to the 200w MA (approximately $60,000) over the next weeks or months. “…historically, those levels have been strong entry points for long-term investors,” wrote Thorn source: https://beincrypto.com/bitcoin-downside-risk-galaxy-digital-warning/