Galaxy Brains Navigating the Bitcoin Bear Market with Beimnet Abebe
Nov 20, 2025
In this discussion, Beimnet Abebe, a trader and market analyst at Galaxy Trading, shares his insights on Bitcoin's current bear market. He reveals his downside price targets, suggesting Bitcoin may trend towards the 200-week moving average. Beimnet also talks about the implications of tax-loss harvesting, liquidity issues, and market sentiment, highlighting the sharp declines across altcoins. Despite current challenges, he maintains a long-term bullish outlook, predicting Bitcoin could reach $200k in the coming years.
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Reflexivity Amplified Crypto Moves
- Crypto showed a rapid price reflexivity where gains made further gains and the reverse amplified losses.
- Beimnet Abebe views current selling as partly reflexive due to DATs, miners, and equity-linked products creating self-reinforcing flows.
Equity Plays Shrink Crypto Buying Power
- Equity-linked crypto products like MicroStrategy and Bitmain at parity reduce marginal buyer capacity.
- That diminished buying from those channels raises the chance of further price weakness driven by equity and tax dynamics.
Avoid Heavy Leverage On Downtrends
- Avoid heavy leverage while Bitcoin trends lower toward the 200-week moving average.
- Beimnet explicitly warns to be careful with leverage because the path down will be volatile and non-linear.