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Galaxy Research Head: Bitcoin Year-End Price Target Revised Downward from $185,000 to $120,000

2 hours ago

On November 5th, as per a CoinDesk report, Alex Thorn, the Head of Research at Galaxy Digital, wrote in a report to clients on Wednesday morning: "Although the structural investment thesis of Bitcoin remains solid, the cyclical dynamic has undergone a shift." Thorn pointed out that multiple factors have given rise to market resistance, such as whale distribution patterns, a declining interest in Bitcoin-related investments, capital rotation into gold, artificial intelligence (AI), stablecoins, and other investment themes, as well as the emergence of "listlessness" in corporate treasuries. Consequently, he has adjusted Bitcoin's year-end target from $185,000 to $120,000.
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