Bitcoin is unlikely to reach US$100,000 before the end of this year, despite a recent rebound, according to analysts. The crypto market faces headwinds from rising interest rates and geopolitical tensions, particularly the Iran conflict, which continue to weigh on digital assets.
While the crypto asset class is expected to end the year higher than current levels, it will likely remain below the peak of US$126,000 reached last October. Alice Liu, head of research at CoinMarketCap, described her outlook for the fourth quarter as "cautiously positive," noting that the worst of this year’s downturn is behind us.
Bitcoin has struggled this year, trading mostly below US$70,000 after a market rout wiped US$19 billion off its value. Liu emphasized that any recovery will be uneven and primarily driven by bitcoin, rather than broader crypto gains.