According to The Block report, despite a slight pullback in Bitcoin price in recent weeks, analysts from research and brokerage firm Bernstein believe that Bitcoin is “far from over.” They have reiterated their prediction that Bitcoin is expected to reach $150,000 by the end of 2025 in this cycle.
Analysts Gautam Chhugani and Mahika Sapra stated in a report that the recent pullback of Bitcoin to around $57,000 effectively “cleared excessive leverage from futures contracts on cryptocurrency exchanges.” They also pointed out that the US Bitcoin spot ETF reversed its trend after seven consecutive days of net outflows and showed net inflows last Friday. Even Grayscale’s Bitcoin Trust Fund (GBTC), after 78 consecutive days of net outflows, recorded its first net inflow since converting to a spot ETF in January. Bernstein analysts explained:
Bernstein analysts also mentioned the overall strong inflows into these ETFs in the past three months, the new trend of motivating corporate finance departments to purchase Bitcoin, the stable post-halving hash rate, healthy post-halving transaction fees, and the low prices of Bitcoin mining equipment. These are all seen as healthy signals for the entire Bitcoin market.
