Galaxy Research: Bitcoin Bear Market Ended in June
Galaxy Digital claims the Bitcoin bear market concluded in June, citing reduced selling pressure from long-term holders.
Galaxy Digital claims the Bitcoin bear market concluded in June, citing reduced selling pressure from long-term holders. Bitcoin (BTC) is trading at $79,421.00, down 0.9% since this brief published. This is an original TLT brief based on reporting by The Block, with live market data added, as of Mon, 26 Oct 2026 14:00:05 UTC.
This assessment, if accurate, suggests a shift in market sentiment and could influence investor strategy by encouraging accumulation during this perceived turning point.
- Galaxy Digital identifies June as the end of Bitcoin's bear market.
- Reduced selling from long-term holders signals a buying opportunity.
- Bitcoin's market cap remains at $1.61T despite recent price fluctuations.
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- Galaxy Research: Bitcoin Bear Market Ended in June — this brief
Galaxy Digital, in a recent analysis, has declared that 
Bitcoin's bear market concluded in June 2023. The firm bases this assessment on the observation that long-term holders have significantly reduced their selling activity, which typically indicates a shift in market dynamics.
This reduction in selling pressure from long-term holders is seen as a positive signal by Galaxy, suggesting that the worst of the bear market may be over and that current prices present an attractive buying opportunity.
While Galaxy's analysis provides a hopeful outlook, the broader market remains relatively flat, with Bitcoin's price showing a slight 0.30% decline over the past 24 hours. The overall crypto market cap stands at $2.75 trillion, reflecting a period of consolidation rather than a clear upward trend.
On-chain data from DeFiLlama shows Galaxy's Total Value Locked (TVL) at $131.37 million, representing a 5.4% increase over the past week. This growth in TVL could support Galaxy's optimistic stance, as it indicates increasing activity and interest in crypto investments.
The Fear & Greed Index currently sits at 50, reflecting a neutral market sentiment. This suggests that while some investors may be encouraged by Galaxy's analysis, others remain cautious, awaiting further confirmation of a sustained market recovery.
Since this brief published about 1 hour ago, Bitcoin (BTC) has moved from $80,155.00 to $79,421.00 — -0.92%.
The chart plots BTC's price: grey is the move before this brief published, the vertical dashed line marks the moment it published, the horizontal dashed line is the price then, and the coloured area is the move since — from TLT's market data (daily resolution). It shows what happened after the news, not that the news caused it; many factors move prices. Not financial advice.
At today's peer-to-peer rate, 1 BTC ≈ ₦109.75M (about $79,421.00), down 1.1% over 24 hours. The naira itself trades about 3.6% above the official rate on the P2P market, so a Nigerian buyer's effective cost differs from the headline dollar price.
Live market data
Current prices for the asset in this story — live, source-stamped, updated every 15 minutes.
Figures and sectors in this story, checked live against on-chain aggregators · October 26, 2026.
TLT reads these figures directly from on-chain aggregators (DeFiLlama, mempool.space) at build time — independent of what any outlet reported. Sector totals aggregate every protocol DeFiLlama tracks in that category. Values are live and will change.
Galaxy Research: Bitcoin Bear Market Ended in June — questions & answers
What evidence does Galaxy cite for the end of the bear market?
Galaxy cites reduced selling from long-term Bitcoin holders as evidence that the bear market ended in June.
How has Bitcoin's price reacted to Galaxy's announcement?
Bitcoin's price has shown a slight 0.30% decline over the past 24 hours, indicating a neutral market response.
What is the current state of the overall crypto market?
The overall crypto market cap is $2.75 trillion, with a neutral Fear & Greed Index of 50.
How much is 1 Bitcoin worth in naira today?
About ₦109.75M at the live peer-to-peer (P2P) USDT rate, which is what Nigerians typically trade at — equivalent to roughly $79,421.00. The naira price moves with both BTC's US-dollar price and the USDT/NGN rate; use our Bitcoin in naira page for any amount.
Has Bitcoin's price moved since this brief was published?
BTC is down 0.92% since this brief first published — trading at $79,421.00 now versus $80,155.00 at publication. TLT re-checks this figure against CoinGecko and Binance every 15 minutes.
Which outlets reported this story?
This is an original TLT brief that synthesises reporting from The Block. It is not a copy of any one article — follow the source links above for the original reporting.
Original summary — not financial advice. This is an original TLT brief that summarises a development reported elsewhere and adds live market data for context; it is not the original article and reproduces no part of it. Follow the source link above for full details. Crypto is volatile and high-risk — always do your own research.