TechFlow reports that on February 3, Alex Thorn, Head of Research at Galaxy Digital, posted on social media stating that Bitcoin’s recent weak performance may lead to further declines over the coming weeks or months toward its 200-week moving average (approximately $58,000). Data shows Bitcoin has corrected roughly 38% from its all-time high reached on October 6, 2025; a sharp drop over the past weekend triggered over $2 billion in long-position liquidations. Currently, 46% of Bitcoin’s supply is underwater, and there exists a supply gap in the $70,000–$80,000 range.
The article notes that Bitcoin’s failure to move in tandem with assets such as gold and silver—as a “debasement hedge”—has undermined its narrative logic. Historical data indicates that the 200-week moving average and the realized price (approximately $56,000) typically represent attractive entry points for long-term investors.
