Bitwise Investments reiterates its conviction in Bitcoin’s long-term trajectory, maintaining a price target of $200,000 driven primarily by increasing institutional adoption.
The firm points to strong institutional interest as a fundamental driver sustaining this bullish outlook, attributing Bitcoin’s resilience during periods of volatility to ongoing capital inflows from major financial players.
Bitwise highlights Bitcoin’s performance earlier this year, notably an intraday peak near $112,000, fueled significantly by exchange-traded fund (ETF) inflows and evolving developments regarding reserve asset considerations involving US institutions.
This optimism stands in contrast to challenges faced by alternative cryptocurrencies. While Bitcoin demonstrates considerable strength, major altcoins, including Ethereum and Solana, have shown comparatively weaker performance.