Bernstein’s latest report forecasts a huge rise in the Bitcoin (BTC) and Ethereum (ETH) exchange-traded funds (ETFs) market. They predict it will hit $450 billion, with more than $100 billion flowing into crypto ETFs over the next two years.
Also Read: Mt. Gox Wallets Transfer $10 Billion in BTC to Unknown Address
Bitcoin’s high in 2025 is projected to reach $150,000, with a target of $90,000 by the end of this year. The broker’s analysts, Gautam Chhugani and Mahika Sapra, emphasized the potential for huge growth in the crypto ETF market.
Ethereum Has Been on a Roll
The cryptocurrency market saw the return of the bulls riding on the hype of Ethereum spot ETFs last week. Ether, in particular, saw massive growth, increasing by about 30% in the past week. The spike was followed and boosted by the U.S. Securities and Exchange Commission’s (SEC) eventual approval of the 19b-4 filings of eight spot ETH ETF issuers.
Once these S1 filings get the green light, Ether ETF trading will commence on exchanges. The approval also officially classified Ethereum as a commodity and not a security, settling one of the biggest controversies surrounding the second-largest cryptocurrency in the world.
Also Read: Trump Wants to Use Bitcoin to Save U.S. Economy
Bernstein notes that Ether is the first proof-of-stake-based token approved as a spot ETF. This approval is a milestone that clears the way for other blockchain assets to evolve from token sales to mainstream financial products. This change could benefit tokens like Solana (SOL) and XRP (XRP), which could follow in Ethereum’s footsteps.
Bitcoin Will Hit $90K by the End of the Year
Bernstein’s report also touches on Bitcoin’s market cycle. They forecast a cycle high of $150,000 for Bitcoin in 2025, suggesting a substantial upward trend. According to the analysts, the end-of-year target price for Bitcoin is set at $90,000.
Recently, Bitcoin’s price has dipped below both moving averages, suggesting a bearish outlook in the short term. The crossover where MA50 moves below MA200 typically signals a “death cross,” which is often interpreted by traders as a potential for more bearish pressure on the price.
However, Bitcoin’s current Relative Strength Index (RSI) suggests that it is neither in the overbought nor the oversold territory. Given the current market trends, Bitcoin might continue to experience resistance around $67,900. If it fails to break past $68,000, the price may further consolidate, potentially testing lower support levels near $66,000.
Cryptopolitan reporting by Jai Hamid
Earn more PRC tokens by sharing this post. Copy and paste the URL below and share to friends, when they click and visit Parrot Coin website you earn: https://parrotcoin.net0
PRC Comment Policy
Your comments MUST BE constructive with vivid and clear suggestion relating to the post.
Your comments MUST NOT be less than 5 words.
Do NOT in any way copy/duplicate or transmit another members comment and paste to earn. Members who indulge themselves copying and duplicating comments, their earnings would be wiped out totally as a warning and Account deactivated if the user continue the act.
Parrot Coin does not pay for exclamatory comments Such as hahaha, nice one, wow, congrats, lmao, lol, etc are strictly forbidden and disallowed. Kindly adhere to this rule.
Constructive REPLY to comments is allowed