Galaxy Analyst: Bitcoin Buyers May Regret Not Buying at $80K by Next March

Bitcoin is trading at around $77,000, and Galaxy Trading says the market is in a clear accumulation phase.

Why Abebe Calls This a Bitcoin Accumulation Zone

On the Galaxy Brains podcast, host Alex Thorn and resident analyst Beimnet Abebe noted that Bitcoin typically bottoms at this stage of its four-year cycle, and that the token's open interest remains unusually subdued—which he interprets as under-positioning rather than exhausted momentum.

"I think we're in a clear accumulation zone, and I think by March of next year, we'll look back and say, 'Wow, I could have bought Bitcoin at $80,000,'" the analyst said.

He pointed out that Q2 13F filings show macro and basis-trading funds exiting Bitcoin ETF positions, while long-term holders such as Morgan Stanley Wealth Management and Mubadala have increased exposure. He expects this pattern to repeat when Q3 filings go public around November 17.

He believes Bitcoin's resilience amid recent AI-driven market anxiety stems directly from the fact that short-term traders simply don't hold Bitcoin to sell in the first place.

Why the Fed's Hold Didn't Shake Bitcoin

After the Fed held rates steady, Bitcoin edged up to around $81,200, a reaction Thorn called "fairly muted" and largely priced in ahead of time.

Additionally, Fed Chair Kevin Warsh struck a cautious, hawkish tone, acknowledging that inflation remains above target.

Warsh also acknowledged that tighter financial conditions have already transmitted to markets, specifically noting widening credit spreads tied to AI companies.

Why Galaxy Sees Traditional Finance as Still Early in Blockchain Adoption

Harry Austin, Galaxy's head of digital infrastructure, told Thorn that large banks are roughly in the third or fourth inning of adopting blockchain infrastructure, and given how entrenched traditional settlement systems are, he expects the process to take five to ten years.

Budget approvals have been driven by revenue opportunities rather than efficiency gains, with most institutions starting with basic products like spot trading, staking, and custody.

Austin said stablecoins and tokenized traditional assets remain the clearest use cases currently driving bank investment, while the biggest long-term opportunity lies in AI agents directly managing financial transactions—an area where banks remain cautious.

SK Hynix and Oracle both posted strong earnings during the Fed meeting, which Abebe said helped ease broader anxiety around AI-related credit exposure.