Bitcoin's Weekly Chart Flips Bullish as 40-Week Trend Turns Higher

Bitcoin's weekly chart has turned bullish, according to Wellington-Altus Chief Market Strategist James E. Thorne. Two major moving averages, the 30-week and 40-week exponential moving averages, have flipped from down to up since the June low.

This setup is referred to as a 'Super Cycle' by Thorne. The decline from the 2025 peak found support at the 200-week average and stopped, stretching the long-term uptrend.

Thorne points to the Guiding and Establishing National Innovation for U.S. Stablecoins Act (GENIUS Act) and tokenization as factors moving Bitcoin and other digital currencies out of a purely speculative cycle and into the financial system.

The Federal Reserve's rate hike is also seen as a 'policy mistake' by Thorne, who notes that markets are already discounting the hike. The calendar also helps, with the strongest part of the four-year presidential cycle approaching, historically seeing the best equity returns.