State of the Bitcoin Bear Market with Beimnet Abebe

About this episode

Alex Thorn interviews Beimnet Abebe about the current state of the Bitcoin bear market and its implications for broader market dynamics.

Alex Thorn, Head of Firmwide Research at Galaxy, speaks with Beimnet Abebe of Galaxy Trading, who previously warned that bitcoin was entering a bear phase. Abebe, a market strategist focused on macro and crypto structure, reiterates his view that bitcoin is likely to test its 200-week moving average near $60,000 amid deteriorating liquidity and weakening risk appetite. The discussion situates crypto within broader market stress. Abebe argues that equity momentum has stalled, software valuations are vulnerable to AI disruption, and marginal buyers are retreating. He points to cracks in the labor market, softer consumer sentiment, and rising odds of Fed cuts driven by employment weakness rather than renewed stimulus. Thorn challenges whether bitcoin’s failure to track gold undermines the “digital gold” thesis, while Abebe maintains that reflexivity and improved risk-reward at lower levels could reset positioning. What’s Happening Abebe frames the recent bitcoin drawdown as a structural breakdown, not a transient dip. Liquidity has thinned, sentiment has turned, and equities—particularly software and AI-exposed names—are repricing. He highlights slowing retail flows…

People in this episode

Host: Alex Thorn

Guest: Beimnet Abebe

Topics covered

• Bitcoin bear market
• macro strategy
• crypto market analysis
• equity momentum
• liquidity
• risk appetite

Keywords

• Bitcoin
• bear market
• liquidity
• macro strategy
• crypto
• equities
• AI disruption
• consumer sentiment
• Fed cuts

Mentioned in this episode

Organizations: Galaxy, Galaxy Trading, Fed, AI, crypto, software, equities, labor market, consumer sentiment

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