Mike Novogratz Reportedly Sees Bitcoin Holding $120K-$125K Through Year-End, Points To Two Potential Catalysts

• Mike Novogratz expects Bitcoin to stay between $120,000 and $125,000 through the end of 2025 and sees limited upside without policy catalysts.
• The Galaxy CEO pointed to potential Fed action and crypto legislation as triggers.
• Novogratz’s outlook contrasts with Tom Lee’s $250,000 target, which he said would require “a heck of a lot of crazy stuff” to happen in a short period of time.

Galaxy Digital CEO Mike Novogratz reportedly said on Wednesday that he expects Bitcoin (BTC) to remain in a relatively narrow range through the end of the year, trading between $120,000 and $125,000.

“I do think we should hold $100,000 or somewhere close to that should be the downside. And on the upside, you don't really accelerate until you take out $125,000,” Novogratz said in an interview with CNBC. “So, the most likely outlook is we're ranging between $120,000 and $125,000, unless we take out the top side.”

What Could Push Bitcoin Higher

Novogratz said a breakout could occur if the White House pressures the Federal Reserve to ease policy sooner than planned or if pending legislation supportive of crypto assets advances before year-end. “Those are the two kinds of catalysts I see,” he said.

The outlook among crypto analysts remains divided. Fundstrat’s Tom Lee has set a year-end target of $250,000 for Bitcoin, citing strong institutional inflows and ETF demand. Novogratz, however, cautioned that such a move would require “a heck of a lot of crazy stuff” to happen in a short period.

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