Galaxy Digital Slashes Bitcoin EOY Price Target To $120,000

Galaxy Digital has cut its 2025 year-end Bitcoin target to $120,000 from $185,000 in a new research alert circulated on November 5 and shared via screenshots on X by Alex Thorn, the firm’s head of firmwide research. In the note titled “Bitcoin Outlook Update: Lowering 2025 YE Target to $120,000,” Thorn situates the downgrade squarely in the context of a “major, multi-week selloff,” writing that “Bitcoin is trading below $100k for the first time since late June, with other cryptos faring worse. ” Thorn stresses that the shift is cyclical rather than existential, stating plainly: “While bitcoin’s structural investment case remains strong, cyclical dynamics have evolved. ” The firm frames the current backdrop as a decisive turn in market microstructure: “Bitcoin has entered a new phase – what we call the ‘maturity era’ – in which institutional absorption, passive flows, and lower volatility dominate source: https://www.newsbtc.com/bitcoin-news/galaxy-digital-bitcoin-eoy-price-target/