Bitcoin Forecasted to Reach $160,000 by Year-End Amid Market Stabilization
Bitcoin is currently trading above $106,000 after a brief dip below $99,000 earlier this week. This recovery follows signs of stability in global markets amid a ceasefire between Israel and Iran.
Key cryptocurrency prices include:
- Ether: $2,400, up 0.5%, nearing resistance at $2,450
- Dogecoin: $0.16, up 0.6%
- Solana: $145, down 0.2%
- Cardano: $0.58, down 1.3%
Ryan Lee from Bitget Research noted that BTC’s struggle to stabilize indicates ongoing caution despite ETF inflows of $46 billion supporting its price. He predicts Bitcoin could reach $110,000–$115,000 by Q3 and potentially $130,000–$160,000 by year-end. Ether is expected to range from $2,600–$2,800 short-term, with a long-term target of $5,500.
Market sentiment has shifted, with U.S. equity futures rising and Asian stocks continuing their rally. The dollar steadied as Federal Reserve Chair Jerome Powell suggested multiple potential paths for monetary policy amid weakening consumer confidence.
Debate continues over Bitcoin's role as a safe-haven asset. Gadi Chait from Xapo Bank remarked on Bitcoin’s quick recovery as evidence of growing liquidity and integration into investment portfolios. He highlighted that institutional interest is helping to mitigate sharp declines in price.