Canary Capital CEO Claims Bitcoin Will Reach This Point and Then Experience a Major Bear Market
Canary Capital CEO Steven McClurg told CNBC Crypto World that a $140,000-$150,000 range is possible for Bitcoin (BTC) by the end of the year, but a full-scale bear market could occur in 2026.
McClurg stated that one of the main reasons for the rise in Bitcoin's price is strong institutional inflows into spot ETFs. He noted that large investment funds, as well as some sovereign wealth funds, pension funds, and insurance companies, have also shown interest in Bitcoin.
McClurg also highlighted advances in crypto regulation in the US, stating that altcoin ETFs could launch next September or October thanks to the SEC's new “general listing standards.” He also described the passage of the stablecoin regulatory law as a turning point for the industry.
McClurg said that Bitcoin could rise to $150,000 if the FED cuts interest rates, but added that increasing credit card, student loan and mortgage defaults would weaken consumer demand in the US economy and pave the way for a bear market in 2026.
McClurg, who argued that they were cautious about Ethereum and that the technology was outdated, announced that they had applied for a spot ETF for Litecoin. “Litecoin has always been considered the silver of Bitcoin,” McClurg said. “Thanks to code updates and Ordinals integration, it's regaining its strength.”
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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