- Galaxy Digital reduces Bitcoin price target amid investor interest in AI and gold.
- Price target adjusted from $185,000 to $120,000.
- Public confidence in Bitcoin dips but long-term outlook remains positive.
Alex Thorn, head of research at Galaxy Digital, told CNBC that due to shifting investor focus, the Bitcoin year-end price target was lowered from $185,000 to $120,000.
This revised outlook reflects broader investment diversions to sectors like AI, nuclear energy, and gold, affecting Bitcoin’s market performance amidst evolving economic priorities.
Bitcoin’s Historical Trends and Long-Term Prospects
Bitcoin (BTC) currently trades at $101,753.28, maintaining a market cap of $2.03 trillion with dominance at 59.23%. In 24 hours, its price dropped by 0.52%, with a 7-day decline of 7.93%. Trading volume decreased by 43.28% as of November 9, 2025. Data sourced from CoinMarketCap shows that despite the recent downturn, Bitcoin’s long-term supply remains constrained, with a circulating supply of 19.95 million out of a maximum of 21 million, ensuring a limited availability.
Insights from the Coincu research team suggest a cautious approach to short-term projections but recognize potential catalysts like legislative changes, which could impact Bitcoin’s value. Long-term projections remain optimistic as Bitcoin solidifies its place in evolving financial ecosystems.
Market reactions have varied, with some analysts agreeing on the cyclical nature of Bitcoin’s popularity, while others express concern over its immediate financial implications. Mike Novogratz, CEO of Galaxy Digital, noted, “Bitcoin is likely to trade in a range between $100,000 and $125,000 through year-end, barring any major catalysts.”
Market Data and Insights
Did you know? The 2021 rotation from Bitcoin to NFTs and DeFi was similar: sudden shifts in capital can temporarily mislead predictions.
Bitcoin (BTC) currently trades at $101,753.28, maintaining a market cap of $2.03 trillion with dominance at 59.23%. In 24 hours, its price dropped by 0.52%, with a 7-day decline of 7.93%. Trading volume decreased by 43.28% as of November 9, 2025.
Bitcoin(BTC), daily chart, screenshot on CoinMarketCap at 07:17 UTC on November 9, 2025. Source: CoinMarketCapInsights from the Coincu research team suggest a cautious approach to short-term projections but recognize potential catalysts like legislative changes, which could impact Bitcoin’s value. Long-term projections remain optimistic as Bitcoin solidifies its place in evolving financial ecosystems.
| DISCLAIMER: The information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing. |
Source: https://coincu.com/bitcoin/galaxy-digital-reduces-bitcoin-price-target/
