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

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.

Industry City | Brooklyn, NY

TUES - THURS, JUNE 24 - 26, 2025

Permissionless IV serves as the definitive gathering for crypto’s technical founders, developers, and builders to come together and create the future.If you’re ready to shape the future of crypto, Permissionless IV is where it happens.

Brooklyn, NY

SUN - MON, JUN. 22 - 23, 2025

Blockworks and Cracked Labs are teaming up for the third installment of the Permissionless Hackathon, happening June 22–23, 2025 in Brooklyn, NY. This is a 36-hour IRL builder sprint where developers, designers, and creatives ship real projects solving real problems across […]

recent research

Research Report Templates.png

Research

Ethena Labs is leaping from its flagship synthetic dollar, USDe, to a full product suite—USDtb, iUSDe, and the Arbitrum-based Converge Chain—designed to marry crypto-native yields with TradFi-grade compliance. Our analysis shows how expanding into CME, ETF options, and tokenized Treasuries could lift protocol revenue from sub-$500 million in a bear case to several billion dollars if favorable regulation and institutional adoption align.

article-image

The L1’s Interwoven Stack is the most opinionated tech stack yet

article-image

Bitcoin is still rising, 11 years after the documentary film The Rise and Rise of Bitcoin

article-image

Arch Labs CEO told Blockworks that the team plans to launch a native token, but declined to give details

article-image

CEO Mike Silagadze tells Blockworks that the US is “open for business” and why its DeFi bank offering is the first of many

article-image

Doing one thing well and leaving everything else out is often what disruptive technologies do best