Bitcoin's Weekly Chart Flips Bullish as 40-Week Trend Turns Higher
Bitcoin's (BTC) weekly chart has turned bullish, according to Wellington-Altus Chief Market Strategist James E. Thorne. He pointed to two major moving averages that have flipped from down to up since the June low. The 30-week and 40-week exponential moving averages have turned higher, indicating a shift from a bearish to a bullish intermediate trend. Thorne said the price has recovered since the pullback from the 2025 high found support at the rising 200-week average, keeping the long-term uptrend intact.
Thorne linked the setup to the Guiding and Establishing National Innovation for U.S. Stablecoins Act (GENIUS Act), tokenization, and the Federal Reserve's rate hike as a 'policy mistake.' He said the market is entering the strongest part of the four-year presidential cycle, historically seen as a time of the best equity returns. The macroeconomic backdrop is also improving, with productivity growth, wage growth, and manufacturing job growth, while inflation is easing.
Thorne described the current setup as a 'Super Cycle,' different from previous cycles. He pointed to tokenized Treasuries, on-chain settlement, and regulated stablecoins as a structural bid improving and the cycle turning up. The price has held the long-term average, and markets are already discounting the Fed's rate hike.
Bitcoin's price was trading at $85,200, up 0.8% in the last 24 hours. On Stocktwits, retail sentiment around BTC remained in the 'bearish' zone, while chatter around the apex cryptocurrency dropped to 'low' from 'normal' levels over the past day. The pressure points for leveraged positions are at $84,100, where a rally could push the price above.