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

Bitcoin's weekly chart is turning bullish, according to Wellington-Altus Chief Market Strategist James E. Thorne. He points out that the 30-week and 40-week moving averages have flipped from down to up since the June low.

The pullback from the 2025 high found support at the rising 200-week average, keeping the long-term uptrend intact, said Thorne. He linked this setup to the GENIUS Act, tokenization, and the Federal Reserve's rate hike as a 'policy mistake.'

Thorne believes that Bitcoin is entering a 'Super Cycle', driven by changes in the market around the chart, including the Guiding and Establishing National Innovation for U.S. Stablecoins Act (GENIUS Act) and tokenization.