‘Unthinkable Scenario’ Required For Bitcoin To Hit $250K, CEO Says

Galaxy Digital's CEO Mike Novogratz tempered expectations, suggesting Bitcoin reaching $250,000 by year-end is unlikely without extraordinary events. He proposes a more realistic range of $100,000 to $125,000 under normal market conditions. Reaching the ambitious $250,000 target would necessitate a 130% surge in a short period. Potential catalysts include Trump influencing the Federal Reserve or the rapid passage of the CLARITY Act for crypto. Current on-chain data indicates profit-taking and slower buying, suggesting limited price momentum. Analysts are monitoring $125,000 as a crucial resistance level that could trigger further buying. Sustained prices near the low six-figure range would align with Novogratz's base case. Spot Bitcoin ETF flows and significant institutional purchases could shift sentiment upwards. Investors should remain cautious, as rapid gains require substantial buying that is not currently evident.