Preheat your oven to 375°F (190°C). Line a large baking sheet with parchment paper.
In a large bowl, combine ground beef, diced onion, garlic, eggs, breadcrumbs, milk, ketchup, Worcestershire sauce, thyme, salt, and pepper. Mix gently with your hands until just combined - avoid overmixing.
On your prepared baking sheet, create a bacon weave by laying 6-7 slices vertically and weaving 6-7 horizontal slices through them.
Shape the meat mixture into a loaf shape in the center of your bacon weave.
Carefully wrap the bacon around the meatloaf, tucking the ends underneath.
Brush additional ketchup over the top and sides of the bacon-wrapped loaf.
Bake for 60-70 minutes, or until internal temperature reaches 160°F (71°C).
Let rest for 10-15 minutes before slicing and serving.