Galaxy research chief cuts bitcoin year-end forecast price target to $120,000
2025-11-05 15:42:49
Alex Thorn, head of research at Galaxy Digital, points out in a recent report that while the structural investment logic for bitcoin remains strong, the cyclical dynamics have changed. The year-end price target for bitcoin is proposed to be lowered from $185,000 to $120,000, taking into account factors such as the distribution of giant whales, waning interest in bitcoin-related investments, the shift to competitive investment areas such as gold, artificial intelligence and stablecoins, and "weakness" in treasury companies.
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