**[Galaxy Digital Lowers Bitcoin Year-End Price Prediction to $120,000]**
Galaxy Digital's Head of Research, Alex Thorn, lowered Bitcoin's year-end price target from $185,000 to $120,000 in a client report released on Wednesday. He noted that while Bitcoin's structural investment logic remains robust, cyclical factors are exerting pressure on its price performance. Key reasons include changes in whale distribution, reduced market interest in Bitcoin-related investments, capital flows toward gold, artificial intelligence, and stablecoins as competitive assets, as well as weak performance from treasury companies. Meanwhile, ByteTree Chief Investment Officer Charlie Morris stated that $100,000 could become a significant support level for Bitcoin, while Standard Chartered analyst Geoffrey Kendrick suggested adopting a phased buy-the-dip strategy to navigate market volatility.