Galaxy Digital cuts Bitcoin year-end target to $120K amid lack of government Bitcoin purchases, leverage wipeout

Galaxy Digital's research arm, led by Alex Thorn, has reduced its year-end 2025 Bitcoin price target from $185,000 down to $120,000. This adjustment reflects headwinds such as ongoing market selloffs, whale distribution, and investor interest shifting towards alternatives like AI and gold, as well as stablecoin growth redirecting venture capital. Despite this moderation, the firm maintains a long-term bullish view, citing structural support from institutional absorption and passive flows that signal market maturity and lower volatility. CEO Mike Novogratz suggested Bitcoin might trade between $100,000 and $125,000 by year-end unless major catalysts, like presidential action on the Fed or the passage of crypto legislation, emerge.

(Source：Crypto Briefing)