Glassnode Analyst Pours Cold Water on $200K Bitcoin Dreams for 2025
Bitcoin bulls hoping for a moonshot to $200K this year might want to temper expectations—Glassnode just dropped a reality check.
Why the skepticism?
The on-chain analytics firm cites weakening network momentum and profit-taking by long-term holders. Meanwhile, Wall Street's latest 'crypto expert' probably just discovered hardware wallets last quarter.
Active addresses are flattening, exchange reserves aren't bleeding—this isn't the setup for a parabolic rally. But hey, at least the 'institutional adoption' PowerPoint slides still look pretty.
Remember: In crypto, analysts exist to make weather forecasters look accurate.
Source: CoinMarketCap
Check explained that the first step to $200,000 was crossing $120,000, which happened on July 14, 2025. But he said there are more steps ahead. “Then we’ve got to get to $130, and $140, and $150. It’s one thing to get there, it’s another thing to stay there,” he said.
He added that he is not willing to take big risks unless he sees more buying volume and signs that the market is stronger. “Until I see that volume kick in, I’m not going to go out on the risk curve.”
Still, Check remains confident in Bitcoin’s long-term future. He said most of his money is in Bitcoin, and he believes that in five years it will be “well and truly” above $200,000.
Also Read: Dormant Whale Moves $1.26 Billion in BTC After Years of Silence
