Galaxy Research: Bitcoin nominal peak of $126K dey under $100K for 2020 dollars
Galaxy Research director Alex Thorn tok say Bitcoin nominol peak for October about $126,000 no pass $100,000 if you adjust am to 2020 dollars using US Consumer Price Index (CPI). Thorn calculation — inflation‑adjusted peak near $99,848 (2020 USD) — show say dollar buying power don erode about 20% since 2020 and e use CPI data (recent annual CPI around 2.7% as of November). The report talk say steady inflation and weaker dollar dey support story about currency debasement and dey affect how investors dey think about symbolic levels like $100,000. Analysts for the report note say Bitcoin still dey sensitive to Federal Reserve policy expectations: slow disinflation make Fed cautious, while softer dollar (DXY down ~11% YTD) dey support flows into crypto. Thorn advise traders and market people to prioritise inflation‑adjusted metrics and macro context when dem dey assess all‑time highs to improve risk management and better interpret price action for volatile markets.
Neutral
Di inflation‑adjusted framing na de‑mainly analytical and e dey affect how investors see tins rather than change Bitcoin fundamentals directly. Short term: Traders fit react to di psychological story about di $100,000 level, fit make volatility increase near dat level as some people reassess targets and risk (short‑term neutral to small bearish if confidence for di nominal all‑time high drop). Medium/long term: Real (inflation‑adjusted) price metrics fit lead to more disciplined risk management and adjusted nominal targets, but dem no dey change on‑chain fundamentals like adoption or supply by themselves. Macro drivers wey dem highlight — CPI path, Fed policy, and dollar strength — na di real price levers. If inflation remain higher for longer and Fed remain hawkish, downward pressure on BTC fit happen; on di other hand, if dollar stay weak and policy ease, e go support flows into crypto. Overall, di piece change framing and trader behaviour more than intrinsic price direction, so classify impact as neutral.