Galaxy Research Director: Bitcoin to Reach $250,000 by Late 2027

BlockBeats News, December 21st, Galaxy Digital Research Lead 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, option market pricing indicates that by the end of June 2026, the probability of Bitcoin falling to $70,000 or rising to $130,000 is nearly equal; and by the end of 2026, the probability of it falling to $50,000 or rising to $250,000 is equally close. Such a wide price range reflects a high level of uncertainty in the market's short to medium-term outlook."

At the time of writing this article, the overall crypto market has been in a bear market, and Bitcoin has not yet established clear bullish momentum. The short-term downside risk still exists until BTC solidly holds the $100,000–$105,000 range. In addition, macro-level uncertainty is increasing, including the speed of AI capital expenditure deployment, the monetary policy environment, and the U.S. mid-term elections held in November.

Looking at the annual performance, Bitcoin's long-term volatility structure has been decreasing, partly due to larger-scale hedged selling and Bitcoin yield-generating strategies being introduced. It is noteworthy that in the current BTC volatility smile curve, put options are priced higher in terms of volatility than call options, which was not the case six months ago. This trend of "maturation" may continue. Whether Bitcoin continues to fall back 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 become firmer.

The ongoing expansion of institutional access is resonating with gradually looser monetary policies and the market's urgent need for non-dollar hedged assets. In the next two years, Bitcoin is likely to be widely accepted as an asset for hedging against currency devaluation, similar to gold."