“El mercado bajista finalizó en junio”: Galaxy Digital afirma que Bitcoin (BTC) se encuentra en una fase de acumulación antes de un aumento de precios.

Los investigadores de la empresa de criptomonedas Galaxy Digital consideran que el mercado bajista de Bitcoin (BTC) finalizó hace cuatro meses.

Alex Thorn, jefe de investigación de la empresa, afirma en un nuevo análisis que Bitcoin se encuentra actualmente “en la fase de acumulación que precede a cada avance anterior”.

“Desde un punto de vista técnico, el promedio móvil de 200 semanas se ha mantenido; el promedio móvil de 50 semanas ha sido recuperado durante cinco semanas consecutivas, y en el día 916 del ciclo de reducción de la cantidad de monedas en circulación, Bitcoin ha superado el punto más bajo alcanzado en ciclos anteriores”.

Según Positioning, la mayoría de los vendedores ya se han retirado del mercado: los traders que mantenían posiciones largas hasta octubre de 2025 han reducido su exposición a fondos cotizados en bolsa (ETF) y futuros en más de la mitad, mientras que el resto de los participantes han mantenido casi todas sus posiciones. Las acciones se encuentran cerca de sus récords, mientras que Bitcoin necesita un aumento del 53% para recuperar su propio máximo histórico.

La situación fundamental de Bitcoin se ha fortalecido: existe una alta probabilidad de devaluación a medio plazo debido a un estado soberano con déficits de 2 billones de dólares y una tasa de rendimiento del 5%.

Thorn también señala que la opinión pública sobre el mercado de criptomonedas ha cambiado nuevamente, orientándose ahora hacia “blockchain” en lugar de Bitcoin” por tercera vez desde que comienza a seguir de cerca la situación del mercado. El investigador indica que cada vez que ha ocurrido este cambio, el valor de Bitcoin ha experimentado aumentos significativos.

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“En 2015-2016, el consorcio de bancos R3 y el artículo de The Economist ‘Trust Machine’ presentaron a ‘blockchain’ como la opción respetable, no a Bitcoin; el precio más bajo de Bitcoin en esa semana fue de 231 dólares, y el precio más alto en el siguiente ciclo fue 83 veces mayor.”

“En 2018-2019, el enfoque cambió a ‘blockchain’, no a ‘criptocurrencies’. Se presentaron productos como JPM Coin y Libra, mientras que Bitcoin quedaba prácticamente descartado (con un precio de 3195 dólares); el precio más alto en el siguiente ciclo fue 20 veces mayor.”

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