TD Cowen Slashes Bitcoin Price Target to $97,500 Amid Market Weakness

Global investment bank TD Cowen has lowered its year-end price target for Bitcoin to $97,500, a significant revision from its earlier projection of $177,000, $225,000 for 2026-2027. This move reflects the bank's cautious near-term outlook for the leading cryptocurrency, attributing recent underperformance to current market dynamics rather than structural flaws.

The downgrade comes as Bitcoin has struggled to maintain momentum in recent months, with prices falling from highs above $100,000 to the current range near $78,000. TD Cowen emphasized that this revision is a response to current price weakness, not a rejection of Bitcoin's long-term potential.

TD Cowen's analysts identified two key catalysts that could help Bitcoin recover: regulatory clarity and index inclusion. Regulatory clarity refers to the ongoing efforts by policymakers in the United States and other jurisdictions to establish clear rules for digital assets, which could reduce uncertainty for institutional investors and potentially boost demand.