Pantera Capital’s forecast that Bitcoin would reach $117,482 by August 2025 has materialized, with the cryptocurrency surging to approximately $120,000 as institutional adoption accelerates and halving cycle patterns repeat. This represents a 660% recovery from Bitcoin’s 2022 bear market lows, confirming the accuracy of the investment firm’s model based on historical price behavior after previous halvings.
The rally coincides with deepening institutional engagement, including significant accumulation through US spot Bitcoin ETFs and corporate treasury allocations. Collectively, these entities now control substantial portions of Bitcoin’s finite supply. Exchange-traded funds hold 1.491 million BTC (7.1% of supply), while public companies maintain holdings of 1.36 million BTC, creating new market dynamics.
Analysts emphasize the predictive strength of Bitcoin’s recurring four-year cycle, characterized by post-halving accumulation phases followed by major price appreciations. Pantera’s successful projection underscores how these established patterns, combined with structural demand shifts toward regulated investment vehicles and corporate adoption, continue to influence Bitcoin’s long-term valuation trajectory.