Bitwise Sees New Bitcoin Highs in 2026, $1 Million by 2030 Predicted

Bitcoin's recent price action has sparked debate about its future prospects. While it remains below its October 2025 record of $126,198, Bitwise executive Ryan Rasmussen believes the cryptocurrency will reach new highs in 2026.

Rasmussen attributes Bitcoin's current weakness to several factors, including higher oil prices and geopolitical tensions, which have increased inflation pressure. He also points to shifting interest-rate expectations from cuts to potential hikes, as well as investors moving capital from crypto into artificial intelligence stocks and major equity offerings.

However, Rasmussen sees a turning point in August, when U.S. spot Bitcoin ETFs attracted $3.52 billion, their strongest result of 2026. This trend reversal has reduced year-to-date ETF outflows from $5.29 billion to $1.77 billion.

Rasmussen identifies lower rates, easing Middle East tensions, and less tariff uncertainty as potential fourth-quarter catalysts for Bitcoin's next move. He also highlights growing Wall Street interest in tokenization and stablecoins, as well as the expected January 2027 implementation of the GENIUS Act, which will give banks and payment companies clearer rules for issuing and using regulated stablecoins.

Rasmussen is even more bullish on Bitcoin's long-term prospects, predicting that it will trade above $1 million by 2030. He attributes this to institutional access, regulatory clarity, and portfolio allocations through wealth-management platforms.