Nov 6, 2025
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Galaxy Digital Lowers Bitcoin 2025 Year-End Target to $120,000
Galaxy Digital has revised its 2025 year-end target for Bitcoin from $185,000 to $120,000 amid a significant market selloff. Key points include:
- Bitcoin's price dropped below $100,000, affecting other cryptocurrencies as well.
- The downgrade is attributed to a cyclical change, not an existential one, marking what Galaxy calls the "maturity era" with institutional absorption and lower volatility.
- Significant coin transfers from old holders to ETFs and institutional buyers have created short-term headwinds but indicate market maturity.
- Leverage issues and market liquidity challenges were exacerbated by an October leverage wipeout.
- Attention and capital have shifted to other investment narratives like AI and gold.
- Retail participation remains low, with ETF and institutional flows dominating market behavior.
- No governmental Bitcoin purchases have been announced, removing a potential bullish catalyst.
- Corporate Bitcoin reserves are now expected to focus on business fundamentals rather than just reserve accumulation.
The current market is seen as transitioning to a "Post-$100k Regime," characterized by methodical institutional accumulation rather than retail speculation. At the time of reporting, BTC traded at $103,093.
