Galaxy Research Director: The performance of the U.S. ETP is stable, and it is only a matter of time before Bitcoin, imitating gold, becomes a hedge against currency devaluation. On December 27, Galaxy Research Director Alex Thorn stated on platform X that for Bitcoin to achieve positive returns in 2025, its price must close above $93,389 on the last day of the year. However, the sentiment among Bitcoin investors is undoubtedly rather bleak at the moment, although some portfolio managers may reconsider Bitcoin in January 2026. This year, Bitcoin has seen many favorable news, and this 'good news' seems to have become the norm. Despite a lackluster performance at the end of the year, the performance of the U.S. Bitcoin ETP has been much more stable, with cumulative inflows only down 9% since reaching a historical high of $62 billion in October, further highlighting the increasing maturity of this asset class. Galaxy believes that Bitcoin imitating gold as a hedge against currency devaluation may only be a matter of time, and several large asset allocators and central banks may ignite this trend. $BTC #美联储回购协议计划