Galaxy Digital's research director predicts Bitcoin could fall to $60,000 within weeks or months.

According to Foresight News , Alex Thorn, Head of Research at Galaxy Digital, tweeted that Bitcoin's recent weakness suggests it may fall further to around the 200-week moving average (approximately $60,000) in the coming weeks or months. Data shows that Bitcoin has retraced approximately 38% from its all-time high on October 6, 2025, experiencing a sharp drop over the weekend that triggered over $2 billion in long liquidations. Except for 2017, Bitcoin has never fallen 40% from its all-time high without falling below 50% within three months (if it were to fall 50% from its current high, the price would drop to $63,000). A significant on-chain holding gap exists in the $82,000 to $70,000 range, which could increase the likelihood of Bitcoin testing this range in the short term to gauge demand.