Peter Chung, head of research at Presto, forecasts that Bitcoin could reach $210,000 by the end of 2025, driven by institutional adoption and global liquidity expansion. During an interview with CNBC, he acknowledged that recent market conditions have not met expectations due to macroeconomic challenges but characterized recent corrections as beneficial for Bitcoin's trajectory. Chung elaborated on Bitcoin's duality as both a risk-on asset, influenced by user adoption, and a safe-haven asset akin to gold during financial instability. He referenced examples such as the 2022 Russia-Ukraine conflict and the 2023 Silicon Valley Bank collapse as moments when Bitcoin acted as a refuge for investors. Bitwise CEO Hunter Horsley also noted that institutional demand is shaping current Bitcoin trends, highlighting minimal retail participation despite significant price movements. He noted that corporate treasuries now hold almost $65 billion in Bitcoin, reflecting a shift toward broader institutional interest.

Source 🔗