Galaxy Digital CEO Predicts Bitcoin Year-End Range of $100K to $125K

Mike Novogratz, CEO of Galaxy Digital, expressed skepticism about Bitcoin reaching $250,000 by year-end, suggesting it would require extraordinary events.

Realistic Range Projection

Novogratz projects Bitcoin could end the year between $100,000 to $125,000 under normal conditions.
Current trading levels are around $107,000; a rise to $250,000 implies a 130% increase.

Possible Catalysts for Price Surge

Potential US policy shifts or passage of significant crypto legislation like the CLARITY Act could drive demand.
Both scenarios face uncertainty and require swift alignment to impact prices significantly.

Market Context

On-chain data indicates profit-taking and slower buying, suggesting consolidation.
Long-term holders are selling, and new buyers have not yet dominated the market.

Technical Considerations

A breakthrough above $125,000 could shift momentum and encourage buying.
Sustained holding near six figures aligns with Novogratz’s projection.
Bitcoin ETF flows and institutional interest are potential catalysts for price increases.

Analysts caution against assuming rapid gains solely based on high targets in headlines. Significant buying activity is necessary to reach $250,000 in the short term.