Galaxy Digital CEO Mike Novogratz expressed skepticism about Bitcoin reaching $250,000 by the end of the year, stating that nearly impossible circumstances would have to unfold for such a surge. Speaking to CNBC, Novogratz noted that Bitcoin, currently trading around $107,649, would need to rally approximately 133% within the next 10 weeks to hit that milestone. He emphasized that Bitcoin should hold the $100,000 level — a significant psychological benchmark first broken in December 2024 — as a downside support.
Novogratz explained that Bitcoin’s price is likely to remain range-bound between $100,000 and $125,000 unless it breaks past the recent all-time high of $125,100 set in early October. He identified two potential catalysts that might trigger a breakout: premature intervention by former President Donald Trump to influence the Federal Reserve, or the passing of the CLARITY Act, a crypto market structure bill expected this year.
Meanwhile, other crypto leaders like BitMine chair Tom Lee and BitMEX co-founder Arthur Hayes remain bullish on Bitcoin reaching between $200,000 and $250,000 by year-end. However, some analysts caution that focusing solely on Bitcoin’s year-end price overlooks broader statistical trends, suggesting patience for the longer-term trajectory.
With the Federal Reserve expected to cut interest rates again soon, the crypto market’s next moves remain closely watched. Novogratz’s pragmatic outlook highlights the challenges ahead for Bitcoin to achieve record-breaking gains within a compressed timeframe.
Read more: https://cointelegraph.com/news/bitcoin-price-2025-macro-factors-galaxy-digital-mike-novogratz