Galaxy Research Director: Bitcoin to Reach $250,000 by the End of 2027

BlockBeats News, December 21st, Galaxy Digital's Research Director Alex Thorn stated in a post that "Bitcoin is expected to reach $250,000 by the end of 2027. The trend in 2026 is too chaotic to predict, but it is still possible for Bitcoin to hit a new all-time high in 2026. Currently, pricing in the options market shows that by the end of June 2026, Bitcoin is equally likely to fall to $70,000 or rise to $130,000; and by the end of 2026, the probability of falling to $50,000 or rising to $250,000 is also close. Such a wide price range reflects a high degree of uncertainty in the mid-term outlook."At the time of writing this article, the overall crypto market has been deep in a bear market, and Bitcoin has not yet established clear bullish momentum. The short-term downside risk remains until BTC firmly holds the $100,000–$105,000 range. In addition, macro-level uncertainty is increasing, including the pace of AI capital expenditure, the monetary policy environment, and the U.S. midterm elections held in November.Looking at the year's performance, Bitcoin's long-term volatility structure has been declining, partly due to a larger scale of covered selling and Bitcoin yield generating strategies being introduced. It is worth noting that in the current BTC volatility smile curve, the pricing of put options at the volatility level is higher than call options, which was not the case six months ago. This "maturity" trend may continue. Whether Bitcoin continues to decline and approaches the 200-week moving average, the maturity and institutional adoption of its asset class are constantly increasing. 2026 may be a relatively dull year for Bitcoin, whether it ends up at $70,000 or $150,000, our bullish view on its long-term prospects will only strengthen.The ongoing expansion of institutional access is resonating with gradually looser monetary policies and the market's urgent need for non-dollar hedging assets. In the next two years, Bitcoin is likely to be widely accepted as an asset to hedge against currency depreciation, similar to gold."