Bitcoin could hit $100K ‘within weeks:’ Galaxy

Bitcoin hitting $100,000 is expected by the end of the year, but might happen before the holidays

article-image

Emre Kahraman/Shutterstock modified by Blockworks

share

This is a segment from the Empire newsletter. To read full editions, subscribe.


Bitcoin once again hit $90,000 early Friday.

Thursday’s pullback, Galaxy’s Alex Thorn tells me, was “anticipated.”

“Some consolidation below the new $93,000 all-time high is healthy; it clears out recent leverage, creating a more stable foundation for another upward move. $100,000 by year’s end is very possible — or we might even see it within weeks,” he said. 

We saw bitcoin quickly take on fresh price records before falling back slightly, which left one question on my mind: Wen $100,000?

Sounds like, from my chats with folks, Thorn’s thesis about the end of the year is the general consensus.

Brian Rudick, managing director of research at GSR, told me that “new demand takes time to materialize, and will likely occur over the coming months.”

Admittedly, I wondered aloud if we could see holders hit the sell button when we hit six figures, due to how big of a milestone it’ll be. Rudick, however, doesn’t buy it. 

“The possibility of a US strategic bitcoin reserve will likely dampen selling. For example, whereas one may have been happy to let their bitcoin go at $95,000 before, it is now tougher to justify selling at that price when $500k is a real possibility, should the US add it as a reserve asset,” he told me.

Thorn added that the “emerging catalysts, particularly from the Trump transition team, could keep momentum strong, pushing BTC beyond this mark” despite the fact that it’s a “psychological barrier.”

Maybe it’s time to start asking: Wen $500,000?


Get the news in your inbox. Explore Blockworks newsletters:

Tags

Decoding crypto and the markets. Daily, with Byron Gilliam.

Upcoming Events

Old Billingsgate

Mon - Wed, October 13 - 15, 2025

Blockworks’ Digital Asset Summit (DAS) will feature conversations between the builders, allocators, and legislators who will shape the trajectory of the digital asset ecosystem in the US and abroad.

recent research

Unlocked by Template (10).png

Research

Innovations on Aptos’ technical design through Raptr, Shardines, and Zaptos approach near-optimal latency and throughput by unlocking 100% utilization of network resources, with the capacity to settle 260k transactions per second with latencies less than 800ms. The original Move language was revamped with the launch of Move 2, supporting more expressivity in smart contract logic and a scalable ability to interact with high volume datasets. The ecosystem has benefitted from strong asset inflows, now hosting over $1.3B in stablecoins, $450M in bridged BTC, and $530M in RWAs. Activity in the Aptos ecosystem has grown notably over the past year, with monthly application revenue reaching ~$835k and monthly DEX volumes growing to over $5B, both at new all time highs.

article-image

The fund group has submitted proposals in recent months for other funds that would hold litecoin, solana, XRP, HBAR, Sui and others

article-image

Momentum’s back — BTC leads, risk assets follow

article-image

Ondo Finance’s acquisition of blockchain development company Strangelove follows its buy of Oasis Pro

article-image

Cryptocurrency and stock traders alike had a lot to unpack Wednesday

article-image

The government says Storm was a money-hungry aid to criminals; the defense says it’s not his fault that people used his code for illicit activities.

article-image

EigenLayer, Lido and Taiko are buying verifiable compute