Bitcoin set to End 2025 at Starting Price, Galaxy Digital Predicts

Galaxy Digital (NASDAQ: GLXY) noted in a recent blog post that Bitcoin (BTC) appears poised to conclude 2025 at approximately the same price level it began the year. Currently, the flagship cryptocurrency is down from around $94,000 at the end of 2025 to approximately $87,000 as of this writing. Galaxy Digital also observed that the cryptocurrency markets experienced a “genuinely bullish wave” during the first ten months of the year.

Galaxy Digital highlighted that, for much of 2025, regulatory reforms progressed, exchange-traded funds (ETFs) continued to attract assets, and onchain activity increased.

Notably, BTC reached an all-time high of $126,080 on October 6, 2025.

However, hopes for a sustained breakout following this peak were “dashed by a market characterized by rotation, repricing, and recalibration.”

According to Galaxy Digital, a combination of macroeconomic disappointments, shifting investment narratives, “leverage wipeouts, and ample whale distribution” destabilized the market.

The firm stated that prices declined, “confidence waned, and by December, BTC had returned to the low $90,000s, although the journey was far from smooth.”

Despite the potential for a year-end price in the red, 2025 still “attracted genuine institutional adoption and laid the foundation for the next phase of real activation in 2026.”

looking ahead, Galaxy Digital anticipates that stablecoins will “surpass traditional payment rails, tokenized assets will enter mainstream capital and collateral markets, and corporate Layer 1 (L1) blockchains will transition from pilot programs to actual settlement.”

Moreover, they predict that public chains will “re-evaluate their value capture mechanisms, decentralized finance (DeFi) and prediction markets will continue to expand, and artificial intelligence (AI)-driven payments will finally appear onchain.”

Below are some of Galaxy research’s crypto market predictions for 2026 and key observations from 2025:

• bitcoin price: BTC will reach $250,000 by the end of 2027. Predicting 2026 is too chaotic, although Bitcoin achieving new all-time highs in 2026 remains possible. Options markets currently indicate roughly equal probabilities of $70,000 or $130,000 by the end of June 2026, and equal probabilities of $50,000 or $250,000 by the end of 2026. These broad ranges reflect near-term uncertainty. Currently,the broader crypto market is deeply in a bear market,and Bitcoin has failed to firmly re-establish bullish momentum. Until BTC firmly surpasses $100,000-$105,000, we believe downside risk remains in the near term. Other factors in the broader financial markets also contribute to uncertainty.