Analysts at brokerage Bernstein believe that Bitcoin is expected to reach $150,000 by the end of 2025. Analysts agree that the recent pullback to local lows around $57,000 has effectively "cleaned up excessive leverage in cryptocurrency exchange futures contracts".
They also noted that US bitcoin exchange traded funds returned to net inflows after eight days of outflows. Even Grayscale-converted GBTC recorded a net inflow of $63 million on Friday after 78 days of outflows. "This is significant considering that GBTC has been a source of a lot of sustained selling, and the new nine ETFs have to absorb that selling."
Bernstein: Bitcoin Expected to Reach $150,000 by End of 2025
2024-05-06 08:15:09
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