Bitcoin Market, Institutional Investor Inflows Change the Landscape—Galaxy Digital Analyst Analysis

According to the latest analysis by Galaxy Digital's Chief Research Officer Alex Thorn, the pool of Bitcoin buyers is steadily expanding, driven by scenarios of monetary easing and demand for non-dollar assets. His view suggests that there is a strong possibility of forming a bullish trend aiming for $250,000 by the end of 2027, supported by institutional investors' covered call strategies and purchases via ETFs.

**Price Range in 2026 is Unusually Wide—Uncertainty and Maturity Progress Simultaneously**

What can be inferred from the pricing in the options market is the hesitation among market participants. As of the end of June 2026, the probability of Bitcoin falling to $70,000 and rising to $130,000 are nearly evenly matched. Furthermore, by the end of the year, scenarios of falling below $50,000 and reaching the $250,000 range occupy roughly equal weight, indicating that the risk range for short-term markets is expanding to an unprecedented level.

Alex Thorn points out a notable change: the volatility of put options has become relatively higher compared to six months ago. This indicates that the market is becoming more aware of downside risks.

**Maturation Continues—Changes in Volatility Structure**

From a long-term perspective, Bitcoin's annual volatility is structurally trending downward. The increase in profit-taking through covered call strategies by institutional investors and the establishment of steady capital inflows via ETFs are factors suppressing market fluctuations.

In other words, market maturity and rigorous risk management are progressing simultaneously. While short-term uncertainties remain, Bitcoin's position as an asset class is steadily strengthening.

**Conclusion: Will 2026 Be Stagnant or Reach New Highs?**

It cannot be denied that 2026 might turn out to be a relatively dull period for Bitcoin markets. However, whether it ends at $70,000 or $150,000, the basis for bullish long-term investor scenarios will become more robust. As long as institutional participation and inflows via covered calls and ETFs continue, the path for Bitcoin to establish itself as a hedge asset similar to gold remains unchanged.