Bitcoin’s Weekly Chart Turns Bullish as Key Indicators Flip Higher

Bitcoin’s weekly chart has turned bullish, according to Wellington-Altus Chief Market Strategist James E. Thorne. He highlighted that the 30-week and 40-week moving averages have shifted higher since the June low, signaling a change from a bearish to bullish intermediate trend. Thorne described the setup as a “Super Cycle,” noting that the decline from the 2025 peak found support at the 200-week average, preserving the long-term uptrend.

Thorne attributed the bullish shift to broader market changes, including the Guiding and Establishing National Innovation for U.S. Stablecoins Act (GENIUS Act) and tokenization. He argued that these developments are moving Bitcoin and other digital currencies from speculative assets to integral parts of the financial system, citing tokenized Treasuries and regulated stablecoins as key drivers.

Macroeconomic factors also play a role, with Thorne noting that productivity, wage growth, and manufacturing jobs are improving under Trump’s economic policies. He criticized the Federal Reserve’s recent rate hike as a “policy mistake,” suggesting markets have already priced in the impact. Thorne emphasized that the structural bid for Bitcoin is strengthening, with the cycle turning up and policy effects beginning to show.

At the time of reporting, Bitcoin was trading at $85,200, up 0.8% in the last 24 hours. Retail sentiment remained bearish, while message volume around BTC dropped by over 24% in the past week. Coinglass data indicated liquidity clusters around $84,000 and $86,000, suggesting potential forced liquidations if the price moves to either level.