Key Points
- •Galaxy Digital has reduced its year-end Bitcoin price target from $185,000 to $120,000.
- •This adjustment reflects a growing investor interest in sectors such as Artificial Intelligence, nuclear energy, and gold.
- •Despite a recent dip in public confidence, the long-term outlook for Bitcoin remains positive.
Revised Price Target and Market Dynamics
Alex Thorn, head of research at Galaxy Digital, has informed CNBC that the firm has lowered its year-end Bitcoin price target from $185,000 to $120,000. This revised outlook is attributed to a notable shift in investor focus towards other asset classes and industries.
The adjustment acknowledges broader investment diversions into sectors like Artificial Intelligence, nuclear energy, and traditional gold assets. These shifts are impacting Bitcoin's market performance as economic priorities evolve and investor capital seeks new avenues.
Bitcoin's Historical Trends and Long-Term Prospects
As of November 9, 2025, Bitcoin (BTC) is trading at $101,753.28, with a market capitalization of $2.03 trillion and a dominance of 59.23%. Over the past 24 hours, its price has seen a decline of 0.52%, and over the last seven days, it has fallen by 7.93%. Trading volume has also decreased by 43.28%.
Data from CoinMarketCap indicates that despite recent market fluctuations, Bitcoin's long-term supply remains inherently constrained. With a circulating supply of 19.95 million out of a maximum of 21 million, its limited availability continues to be a fundamental factor.
The Coincu research team advises a cautious approach to short-term price projections. However, they recognize that potential catalysts, such as significant legislative changes, could positively impact Bitcoin's value. The long-term projections for Bitcoin remain optimistic as it continues to establish its position within evolving financial ecosystems.
Market reactions to these developments have been varied. Some analysts concur with the cyclical nature of Bitcoin's popularity, while others express concerns regarding its immediate financial implications. Mike Novogratz, CEO of Galaxy Digital, commented, "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) is currently trading at $101,753.28, holding a market cap of $2.03 trillion with a dominance of 59.23%. In the last 24 hours, its price has decreased by 0.52%, and the 7-day decline stands at 7.93%. Trading volume has seen a reduction of 43.28% as of November 9, 2025.

The Coincu research team advocates for a cautious stance on short-term forecasts, while acknowledging that potential catalysts, such as legislative developments, could influence Bitcoin's valuation. The long-term outlook remains positive, with Bitcoin continuing to integrate into evolving financial systems.

