Bitcoin has slipped to its lowest level in four months, falling below $35,000 and signaling signs of price exhaustion. After months of sideways action and failed breakouts, market analysts are beginning to cool their expectations, with many now saying a $125,000 target by the end of 2025 is no longer realistic.
The flagship cryptocurrency has faced growing selling pressure as investor confidence weakens. The initial optimism around institutional adoption, spot ETF approvals, and macroeconomic tailwinds appears to be fading — at least in the short term.
$125K Target Now in Doubt
Several prominent analysts who previously projected a massive year-end rally for Bitcoin have revised their outlook. One reason is the lack of sustained buying volume, especially from institutional players, who seem to be waiting on the sidelines.
Moreover, recent data from on-chain analytics platforms shows a rise in long-term holders taking profits, indicating a shift in sentiment. Some traders now suggest that Bitcoin may consolidate between $30K and $38K for the coming months unless a new catalyst emerges.
UPDATE: Bitcoin shows signs of exhaustion as analysts say $125K by year-end is now unlikely.
— Cointelegraph (@Cointelegraph) November 5, 2025
Bitcoin fell to 4-month lows. Can it recover or is further downside ahead? pic.twitter.com/J3QRx4LawT
Is More Downside Ahead?
With momentum fading and resistance growing near the $38,000 mark, Bitcoin risks dipping further if bearish pressure intensifies. Market participants are now looking to the broader macro environment for cues — such as interest rate changes, inflation reports, and potential geopolitical events — that could impact risk assets like crypto.
Still, not all hope is lost. Historically, Bitcoin has shown strong recoveries after similar periods of exhaustion. However, for the $125K dream to stay alive, bulls will need to reclaim key support zones and attract renewed interest from both retail and institutional investors.