Trump's economic policies are paying off, according to Thorne, as productivity, wages, and manufacturing jobs rise, which could ultimately benefit Bitcoin.
- James E. Thorne said the 30-week and 40-week moving averages have turned higher since the June low.
- The pullback from the 2025 high found support at the rising 200-week average, keeping the long-term uptrend intact, said Thorne.
- He linked the setup to the GENIUS Act, tokenization and the Federal Reserve's rate hike as a “policy mistake.”
Bitcoin (BTC) is bullish on the weekly chart, according to Wellington-Altus Chief Market Strategist James E. Thorne. He said two major moving averages have turned upwards. He referred to the setup as a “Super Cycle.”
Bitcoin’s weekly chart is one of the best-looking setups in the market, Thorne said in a post on X. The decline from the 2025 peak found support at the 200-week average and stopped, he said. That stretched the long-term uptrend, he said.
The 30-week and 40-week exponential moving averages have flipped from down to up since the June low, he said. He said the price has since recovered.
Thorne described it as a change from a bearish to bullish intermediate trend. “Weekly momentum is confirming, not diverging.” he added.
Why Is This Cycle Different?
The market around the chart is changing too, Thorne said. He pointed to the Guiding and Establishing National Innovation for U.S. Stablecoins Act (GENIUS Act) and tokenization. He said they are moving Bitcoin and other digital currencies out of a purely speculative cycle and into the plumbing of the financial system.
He pointed to tokenised Treasuries, on-chain settlement, and regulated stablecoins. “That is a different bid than the last cycle. Yes a Super Cycle,” said Thorne.
Macro And Calendar Tailwinds: Thorne Calls Fed Policy A ‘Mistake’
The calendar helps, too, said Thorne. Markets are entering the strongest part of the four-year presidential cycle, he said. Historically, that window has seen the best equity returns, he said.
He also said the macroeconomic backdrop is improving. Thorne said, “Trump’s economic policies are showing green shoots: productivity growth, wage growth, and manufacturing job growth, with inflation easing even through the supply shock of tariffs and the oil spike.”
“The Fed tightened into that,” Thorne said, calling it “a policy mistake.” In September, the Federal Reserve raised its target rate range to 3.75%-4.00% for the first time since 2023. Thorne said markets are already discounting the hike.
He added that the price has held the long-term average, while noting that “the structural bid is improving, the cycle is turning up, and policy is starting to show through. That is a very bullish setup.”
Leverage Clusters Near Price
Bitcoin’s price was trading at $85,200, up 0.8% in the last 24 hours. On Stocktwits, retail sentiment around BTC remained in the ‘bearish’ zone, while chatter around the apex cryptocurrency dropped to ‘low’ from ‘normal’ levels over the past day. Platform data showed that message volume around BTC dropped over 24% over the past week.
In the last 12 hours, the pressure points for leveraged positions are at $84,100 because a rally could push the price above, according to Coinglass data.
A move to either level could trigger forced liquidations, of longs below the price or shorts above it.
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