#比特币价格走势 Galaxy's forecasting framework is worth paying attention to. The $250,000 target by the end of 2027 may seem aggressive, but the core logic is solid: the wide price range reflected in the options market ($50,000-$250,000) precisely indicates institutional consensus on long-term trends—what's uncertain is the path, not the direction.

A few details worth tracking: First, the structural changes in the volatility smile curve, where rising put option premiums indicate market risk pricing is maturing—this is driven by the scale expansion of institutional covered selling and yield strategies. Second, the macro resonance points—loose monetary policy + demand for non-USD assets + expanded institutional access—when these three factors align, their multiplier effect should not be underestimated.

In the short term, there are indeed downside risks; caution is advised until BTC firmly establishes support at $100,000-$105,000. But from the perspective of on-chain capital flows and institutional allocations, current uncertainties may actually present good opportunities for deployment. The volatility in 2026 may indeed seem "boring," but that kind of boredom often harbors the transformation of assets from speculative instruments to hedging tools.