Galaxy’s Alex Thorn credits bitcoin’s hold near $80,000 to earlier hedge fund selling
AI summary
Galaxy research chief Alex Thorn said bitcoin held near $80,000 because hedge funds and bank trading desks had already sold. He cited 13F data showing those trading-driven funds had pared their spot bitcoin ETF positions by June. The claim is an explanation of recent price resilience rather than new flow data, so it offers context for traders watching ETF positioning but little actionable signal.
Narrative history
-
20H AGOBeInCrypto · Score 55 · via Bitcoin Bottom, Thorn
-
8 NOV · 17:17BeInCrypto · Score 15 · via Thorn, Galaxy Alex
-
29 OCT · 23:40You’re reading thisGalaxy’s Alex Thorn credits bitcoin’s hold near $80,000 to earlier hedge fund sellingUnchained · Score 25
-
28 OCT · 16:20Crypto Briefing · Score 65 · via Galaxy, Hedge funds
-
28 OCT · 16:15Decrypt · Score 55 · via 68,000, cut 68,000
-
28 OCT · 13:35Bitcoin Magazine · Score 25 · via Thorn, Galaxy Alex
