25 Years on Wall Street, Now Crypto: GSR’s Baehr Sees a New Bitcoin Regime

Andy Baehr, GSR's managing director of asset management, says bitcoin's $80,000 breakout marks a new market regime. He argues the crypto trading firm watched a stagnant summer flip into real momentum within days.

Baehr spent 25 years on Wall Street derivatives desks, including Morgan Stanley and Credit Suisse, before crossing into digital assets.

Why Baehr Sees a New Bitcoin Regime After $80,000

Bitcoin (BTC) briefly , topping out at $reclaimed $80,000 this week, topping out at $81,272 on Monday. It marked the first time since May that the pioneer crypto tested this threshold.

Baehr had urged patience through what he called a "super slow summer" of thin volumes and muted price action. The stagnation was measurable. Digital asset funds bled a record $8 billion across eight straight weeks of ETF withdrawals before demand returned.

Then the mood turned fast. News of Treasury buybacks in long-dated bonds arrived alongside a planned White House gathering of crypto executives. Industry leaders were meeting in Jackson Hole as the headlines hit, Baehr recalled.

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