According to Canary Capital’s CEO Steven McClurg, Bitcoin could have only 27% of its upside remaining in this cycle.
“I think there is a greater than 50% chance Bitcoin goes to the 140 to 150 range this year before we see another bear market next year,” McClurg said CNBC’s Friday interview. Bitcoin was (at the time of publishing) (BTCThe price of ) at the moment is $117 867. A move to that price range will result in gains between 19% and 27 %. according CoinMarketCap.
McClurg has a fear of the economy at this time
McClurg has warned about a wider economic bear-market ahead. He is not confident of the macroeconomic outlook.
“I don’t like the economic standing at all right now,” He said that the US Federal Reserve had already been due to cut interest rates during its two previous meetings. He believes that rate cuts will come both in September and October. Likewise, the market is pricing in an 92.5% probability of a Fed cut in September. according CME Watch Tool
McClurg said that the Bitcoin recent price increase was largely due to recent spot Bitcoin ETF inflows, as well as Treasury Firm purchases. “That’s what is really driving price,” He said.
“We’re seeing large allocations coming in, not just from small institutions but from large sovereign wealth funds, we’re seeing insurance companies asking questions,” He clarified.
Michael Saylor makes a completely different prediction
McClurg believes that treasury buying will peak in the next few months. However, McClurg acknowledges their significant impact.
Related: Bitcoin’s new record high has traders asking: Did BTC price top at $124K?
Bitcoin enthusiasts disagree that there will be another bear market. Strategy executive chairman Michael Saylor said during an interview On June 11, “Winter is not coming back.”
“We’re past that phase; if Bitcoin’s not going to zero, it’s going to $1 million,” Saylor said.
Matt Hougan is the chief investment officer of Bitwise. doesn’t expect the bull market It is unlikely that the pace of development will slow anytime soon.
“I bet 2026 is an up year,” Hougan said On July 26, X released a video. “I broadly think we’re in for a good few years,” Hougan was added.
Magazine: Altcoin season 2025 is almost here… but the rules have changed
“This article is not financial advice.”
“Always do your own research before making any type of investment.”
“ItsDailyCrypto is not responsible for any activities you perform outside ItsDailyCrypto.”
Source: cointelegraph.com
