Bitcoin's Weekly Chart Flips Bullish Amidst Tokenization, Fed Policy Mistake

Bitcoin's weekly chart has turned bullish according to Wellington-Altus Chief Market Strategist James E. Thorne, who points to two major moving averages turning upwards since the June low.

The 30-week and 40-week exponential moving averages have flipped from down to up since the June low, said Thorne, describing it as a change from a bearish to bullish intermediate trend.

Thorne linked this setup to the GENIUS Act, tokenization, and the Federal Reserve's rate hike as a 'policy mistake.'

The market around the chart is changing too, with tokenized Treasuries, on-chain settlement, and regulated stablecoins moving Bitcoin and other digital currencies out of a purely speculative cycle and into the plumbing of the financial system.