Most crypto funds believe Bitcoin has not yet hit its bottom, with the true bottom expected to occur at the end of Q3 to early Q4 this year.
According to The Block, several cryptocurrency funds have adopted a cautious stance toward Bitcoin’s outlook. David Grider, Partner at Finality Capital, stated that Bitcoin is currently in the mid-to-late downward phase of this market cycle, with the true bottom expected to occur at the end of Q3 through early Q4 this year—within a range of approximately $45,000 to $55,000—and potentially rebounding to $65,000–$75,000 by year-end.
Richard Galvin, Executive Chairman of Digital Asset Capital Management, holds a “relatively neutral” view on Bitcoin over the next 12 months; his firm’s directional fund currently holds its highest cash allocation to date, while its Bitcoin allocation has dropped to the lowest level since 2022.
Cosmo Jiang, General Partner at Pantera Capital, noted that the four-year Bitcoin cycle may extend the bear market for several more months, yet the market is becoming increasingly rational, with price action reflecting fundamentals more closely.
Jack Platts, Founder of Hypersphere Ventures, forecasts Bitcoin’s year-end baseline price at approximately $55,000, with a bear-case scenario potentially dropping to $40,000 and a bull-case scenario reaching $80,000.
