Novogratz Reassesses Bitcoin's Near-Term Outlook as BTC Struggles Below Six-Figure Mark

ZenZKPlayer · 2026-01-05T14:42:14+00:00

Mike Novogratz of Galaxy Digital has adjusted his Bitcoin price forecast, now viewing the $150,000 target for 2025 as unlikely. Current market sentiment is marked by fear, impacting confidence. Novogratz notes that Bitcoin must break the $100,000 resistance to regain momentum, but technical challenges persist. Despite short-term volatility, he remains optimistic about the cryptocurrency infrastructure's long-term development.

ZenZKPlayer

2026-01-05 14:42:14

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Galaxy Digital’s Mike Novogratz has revised his earlier stance, acknowledging that his forecast for Bitcoin to reach $150,000 in 2025 may not materialize as originally envisioned. The cryptocurrency market currently trades at $92.69K, reflecting the challenging sentiment that has gripped traders in recent months.

The Galaxy Digital chief described the prevailing market conditions as characterized by heightened anxiety rather than the confidence that typically fuels sustained rallies. This fear-driven environment stands in sharp contrast to the conviction-based momentum that drives genuine bull markets forward. The shift came after the October flash crash rattled confidence and disrupted the bullish narrative that had been building momentum.

Technical Resistance and Market Dynamics

For Bitcoin to reignite its upward trajectory, Novogratz emphasized that BTC needs to decisively break and hold above the $100,000 resistance level. However, this breakthrough faces headwinds from option sellers who are actively defending this key price zone, creating a technical stalemate in the market.

Rather than a directional move, Novogratz anticipates Bitcoin will likely oscillate within a volatile range in the near term, as bulls and bears battle for control. This sideways consolidation reflects the tension between those expecting further declines and those hoping for a renewed push higher.

Long-Term Optimism Remains

Despite the near-term price stagnation and revised outlook, Novogratz maintains a constructive view on cryptocurrency’s infrastructure development. The emergence of new banking integrations and tokenization frameworks suggests the underlying ecosystem continues to mature, even as spot prices remain range-bound. These structural developments may ultimately lay the groundwork for the next major market transition.

BTC0,71%

OP2,64%

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