Bitcoin may surge as much as 117% to $175,000 in the coming quarters, according to Brian Vieten, senior research analyst at Nasdaq-listed Siebert Financial, even after the cryptocurrency slipped toward $80,000 in recent trading.
This bullish forecast follows a turbulent period for Bitcoin, characterized by renewed outflows from exchange-traded funds, persistent inflation, and uncertainty over Federal Reserve interest rates. On October 15, Bitcoin traded close to $80,800, underscoring the significant gap between its current price and Vieten’s ambitious target.
Analyst points to changed market structure after 2022
Vieten attributes his outlook to notable shifts in Bitcoin’s underlying market dynamics since the severe downturn of 2022, when excessive leverage and waves of institutional liquidations contributed to a protracted bear market.
He explains that ownership has since broadened, and traditional financial institutions are increasingly offering new financing alternatives to investors interested in digital assets.
Vieten underscores that the structure of the Bitcoin market has fundamentally changed since previous cycles, with greater wallet diversification and more institutional involvement.
His valuation model factors in money supply expansion, digital wallet adoption rates, and persistent Bitcoin demand as central drivers. This optimistic estimate also surpasses Citi’s $113,000 price projection, signaling growing institutional confidence in the asset despite market volatility.
One especially important trend, according to Vieten, is banks now accepting Bitcoin ETF shares as collateral, enabling investors to borrow against their ETF positions without immediate liquidation—though this could raise liquidity risks if positions become overleveraged.
He further points to a shift among Bitcoin miners, who are investing in data center infrastructure to participate in the artificial intelligence sector. This initiative, reported in earlier industry research, could help miners reduce reliance on digital asset mining as their sole income stream.
ETF withdrawals and inflation raise doubts
Despite Vieten’s optimistic view, the institutional investment landscape has signaled caution. US spot Bitcoin ETFs saw net redemptions of roughly $261.4 million on October 14, quickly reversing an earlier single-session inflow of $175.7 million.
Earlier that month, Bitcoin ETFs experienced withdrawals totaling $729 million over just two days, reflecting how institutional interest can shift rapidly in response to changing market risks.
These movements suggest that ETF adoption alone does not create automatic, ongoing buying pressure, as fund investors retain the option to redeem shares amid unfavorable conditions.
Rising inflation has also added to the uncertainty. The latest US inflation reading for September put headline consumer prices at a 3.7% annual increase, prompting concerns the Federal Reserve might keep interest rates high or even raise them again to combat inflation.
Tighter monetary conditions and higher yields on traditional assets could draw liquidity away from Bitcoin and weigh on its appeal to investors seeking lower-risk returns.
Vieten also notes the growing use of stablecoins as a possible support for broader crypto adoption. He maintains that expanded blockchain-based financial services could eventually bolster Bitcoin demand, though this remains an assumption that may not translate directly into more Bitcoin purchases.
The path to $175,000 would require Bitcoin to rise by $94,200 from current levels, first overcoming resistance at $85,000, $90,000, and the psychologically important $100,000 mark.
Recent forced liquidations in Bitcoin have highlighted the market’s sensitivity to leveraged positions, while the $80,000 to $82,000 price region continues to serve as key short-term support.
In a market where a single Fed decision or a sudden altcoin listing can change everything in seconds, traders looking to stay ahead are consolidating their tools. Instead of switching between different apps for news, charts, and portfolios—an approach that can lead to missed opportunities—investors are adopting privacy-first platforms like CryptoAppsy, which provide real-time charts, personalized price signals, coin-specific headlines, and essential macroeconomic data all on one screen without requiring users to register accounts.
Meanwhile, other institutional analysts present bullish outlooks with different timelines and conditions. Bernstein, for example, estimates that Bitcoin could reach $125,000 by the end of 2026.
