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CoinDesk Podcast Network - The Blockspace Podcast: $120K Bitcoin Call, Stablecoins, and 2026 BTC Market

Alex Thorn from Galaxy Digital discusses why they revised their Bitcoin price target from $185K to $120K, competition from gold and AI, the stalling Bitcoin Season 2 momentum, stablecoin growth, and Bitcoin's transition into a mature, lower-volatility asset class.


Alex Thorn, Head of Research at Galaxy Digital, joins us to talk about why Galaxy revised their Bitcoin end-of-year target from $185K to $120K, the competitive headwinds from gold (up 57% vs Bitcoin's 12%), AI investments, and stablecoins, the October 10th leverage wipeout, Bitcoin's maturation into a lower-volatility asset, whale distribution patterns, the stalled momentum of ordinals and runes, Bitcoin Layer 2 developments, and the ongoing arbitrary data filters debate affecting projects like Citrea and Botanix.

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**Notes:**

• Galaxy revised BTC target: $185K down to $120K

• Gold outperformed Bitcoin: 57% vs 12% YTD

• October 10th leverage wipeout major catalyst

• Bitcoin Season 2 momentum has stalled out

• Stablecoins creating major market competition

• Layer 2s like Citrea, Botanix still early stage

Timestamps:

00:00 Start

00:49 Gov shutdown? Oh no!!!

03:03 Revising EOY price prediction

07:55 Next price catalyst?

10:50 Longer term price predictions

14:01 Crashing to $100k

16:34 Stablecoins

22:38 Tether & competition

30:11 Backing

33:58 Did we lose the plot?

37:37 Enthusiasm for BTC development

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👋The Blockspace Podcast is produced Blockspace Media, Bitcoin’s first B2B publication in Bitcoin. Follow us on Twitter and check out our newsletter for the best information in Bitcoin mining, Ordinals and tech!

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Native America Calling - Wednesday, November 12, 2025 – The race to protect cultural treasures

The storm that ravaged villages along Alaska’s west coast may have washed away thousands of artifacts that promised to provide valuable insights into early Yup’ik settlements. The storm destroyed nearly 60 feet of shoreline near the village of Quinhagak. Along with it was a site that was the source of early masks, tools and other items that make up the world’s largest collection of Yup’ik artifacts housed at the local museum. Researchers, who were already racing to recover the items threatened by thawing permafrost, say as many as 10,000 artifacts could be lost.

In another blow, thieves made off with more than a thousand artifacts from the Oakland Museum of California‘s off-site storage facility. Oakland police and the FBI are working to find the culprits and recover the items. The early assessment by authorities suggest the heist may have been more of a crime of opportunity than a targeted operation.

GUESTS

Cody Groat (Kanyen’kehaka’), assistant professor at the Department of History and the Indigenous Studies Program at the University of Western Ontario

 Shannon O’Loughlin (Choctaw), chief executive and attorney at the Association on American Indian Affairs

Lynn Marie Church (Yup’ik), CEO of Nalaquq, LLC

Rick Knecht, emeritus senior lecturer in archaeology at the University of Aberdeen

 

Break 1 Music: Drum I Carry (song) Pamyua (artist) Side A Side B (Side A)(album)

Break 2 Music: Only A Whisper (song) Joe H Henry (artist) Real Things (album)

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Money Girl - 6 Ways to Use Extra Money Wisely

974. Laura reviews what to do when you have a small or large amount of extra money in your budget.

Find a transcript here. 

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Marketplace All-in-One - Even if the government reopens, what about all that economic data?

After 43 days, the government shutdown could end today. But there are still lingering questions: When will food stamps be distributed to beneficiaries? When will government workers receive paychecks? As for all of the economic data we missed while government agencies were closed? It won’t be released immediately once the government reopens — far from it. Then, the shuttering of the IRS' Direct File program and climate talks in Brazil.

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CBS News Roundup - 11/12/2025 | World News Roundup

The House to vote on ending the shutdown. Bitter cold in parts of the nation. Jimmy Kimmel mourns the death of bandleader Cleto Escobedo. CBS News Correspondent Steve Kathan has those stories and more on the World News Roundup podcast.

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Marketplace All-in-One - Australia’s spy chief warns of foreign hacker threat

From the BBC World Service: Australia is increasingly vulnerable to "high-impact sabotage" from hackers backed by China, according to Australian intelligence official Mike Burgess. He told business leaders in Melbourne that there had been multiple attempts to hack into transportation, telecommunications, water, and energy networks. Plus, a multibillion-dollar natural gas platform off the coast of Senegal promised to bring economic prosperity, but fishermen there say the development has caused disruption and unemployment.

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WSJ What’s News - 42 Million Americans Wait As Court Extends SNAP Funding Pause

A.M. Edition for Nov. 12. The Supreme Court is holding up food aid for millions in a bid not to derail a House vote to end the government shutdown. Plus, an exclusive look at the White House push to upend how shareholders can vote on and influence the future of America's biggest companies. And President Trump moves to drill baby drill, off the coast of California. WSJ’s Giulia Petroni explains how the administration's campaign against renewable energies has already changed the outlook for oil and gas demand in years to come. Caitlin McCabe hosts.


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Up First from NPR - House Shutdown Vote, Aviation Challenges, USS Ford In Caribbean

House Republicans say they have the votes to end the longest government shutdown in U.S. history, a vote today could send the bill to President Trump’s desk by nightfall. The FAA warns that flight disruptions will continue even after the government reopens, as air traffic controller shortages strain the nation’s aviation system. And the U.S. deploys its largest aircraft carrier to the Caribbean, escalating tensions with Venezuela.

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Today’s episode of Up First was edited by Jason Breslow, Russell Lewis, Andrew Sussman, Mohamad ElBardicy, and Alice Woelfle.

It was produced by Ziad Buchh, Nia Dumas and Lindsay Totty.

We get engineering support from Stacey Abbott. And our technical director is Carleigh Strange.

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