**Bitcoin Bulls Adjust Price Targets Amid Slowing Demand**
**Meta Description:** Major Bitcoin bulls are revising their near-term price forecasts as demand wanes, while maintaining a positive long-term outlook for the cryptocurrency.
**URL Slug:** bitcoin-bulls-adjust-price-targets
**Bitcoin Bulls Adjust Price Targets Amid Slowing Demand**
In a recent shift, prominent Bitcoin advocates on Wall Street are revising their near-term price expectations for Bitcoin following a notable market downturn. Despite these adjustments, their long-term perspectives remain optimistic.
Standard Chartered, a leading supporter of cryptocurrency, has significantly reduced its Bitcoin price predictions in a report released on Tuesday. The bank now anticipates Bitcoin will reach $100,000 by the end of 2025, down from a previous estimate of $200,000, and $150,000 by the end of 2026. However, its long-term target of $500,000 remains unchanged, although the timeline has been extended to 2030 from 2028. This downgrade reflects a noticeable decline in demand, particularly from corporate treasuries, which had previously been a significant driver of Bitcoin purchases. Additionally, the inflow of funds into exchange-traded funds (ETFs) has slowed considerably.
Geoffrey Kendrick, Standard Chartered’s global head of digital asset research, noted that the aggressive accumulation by corporations has “run its course.” He emphasized that future price increases will rely primarily on ETF inflows, predicting a phase of consolidation rather than widespread selling.
Analysts at Bernstein echoed this sentiment, forecasting Bitcoin to reach $150,000 by the end of next year and approach $200,000 by late 2027. They have retracted their earlier prediction of a $200,000 peak this year, suggesting that Bitcoin is no longer constrained by its historical four-year cycle. The analysts believe that increased institutional participation has contributed to the market’s resilience.
These revisions come in light of a challenging period for Bitcoin prices, which have plummeted nearly 30% from their October peak of over $126,000. On Monday, spot Bitcoin ETFs experienced $60 million in net outflows, with BlackRock’s iShares Bitcoin Trust facing approximately $2.3 billion in redemptions in November, marking its largest monthly outflow since inception. While these outflows account for about 3% of the fund’s assets, Bernstein points out that total ETF withdrawals remain below 5% of assets under management. Retail investors still dominate ETF share ownership, although institutional stakes have risen to 28%.
Despite these forecasts, Bitcoin saw a resurgence, climbing over 4% to nearly $94,640, which boosted its market capitalization to approximately $1.86 trillion. Trading volume surged to $46 billion, reaching a seven-day high. Institutional interest remains strong, as evidenced by Twenty One ringing the NYSE opening bell with over 43,500 BTC, while PNC became the first major U.S. bank to offer direct spot Bitcoin trading to private clients. Additionally, Bank of America has encouraged limited allocations in digital assets.
Investors are also considering favorable macroeconomic signals, including anticipated Federal Reserve rate cuts and comments from industry leaders suggesting that Bitcoin’s cycle lows may have already occurred. As of now, Bitcoin is trading close to $94,000.
**FAQ**
**What are the new price targets for Bitcoin?**
Standard Chartered has revised its Bitcoin price targets to $100,000 by the end of 2025 and $150,000 by the end of 2026, while maintaining a long-term target of $500,000 by 2030.
