Galaxy Research Director: Bitcoin year-end target price adjusted from $185,000 to $120,000

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On November 5, according to CoinDesk, Galaxy Digital's research director Alex Thorn wrote in a report to clients on Wednesday morning: “Although the structural investment logic of Bitcoin remains solid, the cyclical dynamics have changed.” Thorn pointed out that multiple factors have created market resistance, including: the distribution of whales, decreased interest in Bitcoin-related investments, funds rotating into other investment themes such as gold, artificial intelligence (AI), stablecoins, and the “sluggishness” seen in treasury companies. As a result, he lowered his year-end target for Bitcoin from $185,000 to $120,000.

BTC2.16%
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