Nov 7, 2025
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Galaxy Digital Lowers Bitcoin Price Target Amid Market Downturn
The cryptocurrency market is under bearish pressure, with Bitcoin (BTC) struggling to regain key support levels.
- Bitcoin has declined nearly 6% over the past week, impacting major cryptocurrencies like Ethereum (ETH), XRP, Binance Coin (BNB), and Solana (SOL), all experiencing double-digit losses.
Galaxy Digital Adjusts Bitcoin Price Target
- Galaxy Digital lowered its year-end Bitcoin price target from $185,000 to $120,000 due to a significant leverage wipeout in the market.
- CryptoQuant notes that Bitcoin dropping below its 365-day moving average near $102,000 might signal further decline.
- Challenges include a stronger dollar and uncertainties around Federal Reserve policy affecting risk appetites.
ETF Flows and Market Sentiment
- There have been significant outflows from US spot BTC ETFs, reversing positive trends seen earlier in 2025.
- Options market volatility has increased, with the $100,000 level acting as a psychological barrier.
- Stabilization of ETF flows could improve market sentiment if no new macroeconomic shocks occur.
On the macroeconomic front, while supportive, the environment is clouded by a government shutdown in Washington. The Federal Reserve's recent cautious stance on interest rate cuts may contribute to maintaining a firm dollar and tight credit conditions.
For a sustainable Bitcoin rally, a reversal in ETF outflows and renewed confidence in risk assets are deemed necessary by CryptoQuant.