Bitcoin Outlook Shifts Bullish as Technical Indicators Align

James E. Thorne, Chief Market Strategist at Wellington-Altus, has expressed his optimism towards Bitcoin's long-term technical outlook. According to Thorne, the medium-term trend in the cryptocurrency market has turned bullish again, with the current structure presenting a very strong outlook.

The analyst points out that Bitcoin's weekly chart currently shows one of the strongest technical setups in the market. He notes that after reaching its 2025 peak, Bitcoin retreated to the rising 200-week moving average during the correction but managed to hold above this level, indicating that the long-term uptrend has never been broken.

Thorne also highlights that following the low seen in June, the 30-week and 40-week exponential moving averages shifted from a downward to an upward trend. Additionally, the fact that Bitcoin's price has risen above these averages again indicates that the medium-term outlook has shifted from bearish to bullish.

The analyst believes that not only the technical outlook but also the market structure in which Bitcoin operates is changing. He notes that developments in GENIUS regulations and tokenization are beginning to move Bitcoin beyond being merely a speculative market, integrating it into the infrastructure of the financial system.