diff --git a/CHANGELOG.md b/CHANGELOG.md
index 9d52e0f687..dd1ca3f933 100644
--- a/CHANGELOG.md
+++ b/CHANGELOG.md
@@ -1,5 +1,9 @@
 # Changelog
 
+## [Unreleased]
+
+- No changes yet.
+
 ## [v1.48.0] - 2024-12-19
 
 - Add `buf registry plugin {create,delete,info,update}` commands to manage BSR plugins.
@@ -1314,6 +1318,7 @@ buf check breaking proto --against .git#branch=master,subdir=proto
 
 Initial beta release.
 
+[Unreleased]: https://github.com/bufbuild/buf/compare/v1.48.0...HEAD
 [v1.48.0]: https://github.com/bufbuild/buf/compare/v1.47.2...v1.48.0
 [v1.47.2]: https://github.com/bufbuild/buf/compare/v1.47.1...v1.47.2
 [v1.47.1]: https://github.com/bufbuild/buf/compare/v1.47.0...v1.47.1
diff --git a/private/buf/bufcli/bufcli.go b/private/buf/bufcli/bufcli.go
index 3c19cfcfc7..c434838efb 100644
--- a/private/buf/bufcli/bufcli.go
+++ b/private/buf/bufcli/bufcli.go
@@ -15,4 +15,4 @@
 package bufcli
 
 // Version is the CLI version of buf.
-const Version = "1.48.0"
+const Version = "1.48.1-dev"