Bitcoin Buyers May Look Back by March and Say ‘I Could Have Bought Bitcoin at $80,000,’ Galaxy Analyst Says

Bitcoin (CRYPTO: BTC) trades around $77,000, with Galaxy Trading saying the market sits firmly in an accumulation zone.

Why Abebe Calls This Bitcoin’s Accumulation Zone

In the Galaxy Brains podcast, host Alex Thorn and resident analyst Beimnet Abebe pointed out that Bitcoin typically bottoms around this point in its four-year cycle, and open interest on the token remains unusually low, a sign he reads as under-positioning rather than exhaustion. 

“I think we’re firmly in accumulation zone, and I think we’re going to look back in March of next year and being like, ‘Wow, I could have bought Bitcoin at 80,000,’” the analyst said.

He pointed to Q2 13F filings showing macro and basis-trading funds exiting Bitcoin ETF positions while long-term holders like Morgan Stanley Wealth Management and Mubadala added exposure, a pattern he expects to repeat when Q3 filings become public around November 17. 

He argued Bitcoin’s resilience through recent AI-driven market anxiety traces directly to short-term traders simply not holding Bitcoin to sell in the first place.

Why the Fed’s Hold Didn’t Rattle Bitcoin

Bitcoin ticked up modestly to around $81,200 after the Fed held rates steady, a reaction Thorn called “pretty muted” and largely priced in beforehand.

Moreover, Fed Chair Kevin Warsh struck a cautiously hawkish tone, acknowledging inflation remains above target.

Warsh also conceded that tighter financial conditions have already worked their way into markets, pointing specifically to wider credit spreads tied to AI companies.

Why Galaxy Sees Traditional Finance Still Early on Blockchain Adoption

Galaxy’s head of digital infrastructure, Harry Austin, told Thorn that major banks remain roughly three to four innings into adopting blockchain infrastructure, a process he expects to take five to 10 years given how deeply embedded traditional settlement systems are.

Revenue opportunity, not efficiency gains, continues driving budget approval, with most institutions starting with basic products like spot trading, staking and custody.

Stablecoins and tokenized traditional assets remain the clearest use cases pulling bank investment right now, Austin said, with the biggest long-term opportunity lying in AI agents that manage financial transactions directly, something banks still approach cautiously.

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

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