Bitwise Sees New Bitcoin Highs by 2026, $1M Target by 2030
Bitcoin has been on an upward trend since August, attracting $3.52 billion in U.S. spot ETF inflows and reaching a price of $79,000 after hot inflation data.
Ryan Rasmussen from Bitwise believes that Bitcoin will break its four-year cycle and reach new highs by 2026, citing improving fund flows, corporate treasury purchases, and a potential fourth-quarter rally as drivers of the trend.
The asset manager also predicts that exchange-traded funds will buy more than 100% of the new supply of Bitcoin, Ethereum, and Solana in 2026.
Rasmussen attributed Bitcoin's weakness this year to higher oil prices, geopolitical conflict, and shifting interest-rate expectations.
He identified lower rates, easing Middle East tensions, and less tariff uncertainty as potential catalysts for a fourth-quarter rally, as well as growing Wall Street interest in tokenization and stablecoins.