Bitcoin's Weekly Chart Flips Bullish on GENIUS Act and Fed Policy
Bitcoin's weekly chart has turned bullish, according to Wellington-Altus Chief Market Strategist James E. Thorne. He notes that the 30-week and 40-week moving averages have flipped from down to up since the June low.
The price has recovered since the pullback from the 2025 high, finding support at the rising 200-week average and keeping the long-term uptrend intact.
Thorne links 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 describes it as a 'Super Cycle' and says the market is moving Bitcoin and other digital currencies out of a purely speculative cycle and into the plumbing of the financial system.
The calendar also favors the bulls, with markets entering the strongest part of the four-year presidential cycle, which has historically seen the best equity returns.