Bitcoin to Rebound and Hit $200K by 2025: Bernstein

Bernstein analysts maintain a bullish forecast for Bitcoin, predicting it will reach $200,000 by the end of 2025. They believe the recent slump in Bitcoin's price is temporary and that a rebound is imminent. This optimism stems from the anticipated approval of spot Bitcoin ETFs by major wirehouses and private banks in the third or fourth quarters of this year. The analysts see these ETFs as a catalyst for institutional adoption, leading to increased demand and ultimately pushing Bitcoin prices higher. They argue that the current low institutional participation in spot Bitcoin ETFs (only 22%) is misleading, as the real impact will be felt when these ETFs become widely available. Additionally, they highlight the growing acceptance of Bitcoin as a treasury reserve asset, with new guidelines facilitating corporations to hold it on their balance sheets. Despite a recent outflow from U.S. spot Bitcoin ETFs, Bernstein analysts remain confident that inflows will pick up again, creating favorable entry points for investors before the next wave of institutional demand.