Bitcoin Price Target Jumps to $97,500 Amid Demand Recovery Hopes
TD Cowen has set its sights on Bitcoin's year-end price target at $97,500, representing a 25% upside from the current trading range of $78,000. This projection comes with a caveat: while it implies demand recovery and potential catalysts like regulatory clarity, it also reflects recent price weakness rather than any structural deterioration.
The bank's analyst Lance Vitanza attributes the revisions to changes in market conditions, noting that the previous targets for 2025 and beyond have been compressed. The updated base-case projection for year-end 2026 now sits at approximately $100,000, down from a prior estimate around $140,000.
The reduced price target for Strategy, led by Michael Saylor, follows the same downward revision as Bitcoin's forecast. TD Cowen maintained its Buy rating on Strategy despite the cut in its price target to $260 from $400.