Galvin Sees Major Turning Point Looming for Crypto Market

Crypto analyst Richard Galvin believes that Bitcoin and the broader cryptocurrency market may be approaching a major cyclical turning point. According to him, depressed trading activity, tokenization, and artificial intelligence could combine to drive the next expansion.

Galvin noted that crypto appears to be 'at or pretty close' to a cyclical bottom in trading volumes, even if prices face another leg lower before a sustained recovery. He sees decentralized trading volume as a key cycle gauge, with volumes falling from $500 billion in January 2025 to around $130-$140 billion.

Galvin also highlighted Zcash, arguing that financial privacy remains one of crypto's most durable use cases. He believes Zcash is increasingly filling the role of a privacy-focused counterpart to Bitcoin, citing its growing adoption and Grayscale's recent investment product for Zcash.