{"id":8348,"date":"2025-11-21T06:00:19","date_gmt":"2025-11-21T06:00:19","guid":{"rendered":"https:\/\/ad-doge.com\/blog\/why-bitwise-thinks-bitcoin-still-hits-200000-in-2026\/"},"modified":"2025-11-21T06:00:19","modified_gmt":"2025-11-21T06:00:19","slug":"why-bitwise-thinks-bitcoin-still-hits-200000-in-2026","status":"publish","type":"post","link":"https:\/\/ad-doge.com\/blog\/why-bitwise-thinks-bitcoin-still-hits-200000-in-2026\/","title":{"rendered":"Why Bitwise Thinks Bitcoin Still Hits $200,000 In 2026"},"content":{"rendered":"

Ryan Rasmussen, Head of Research at Bitwise, used a Yahoo Finance appearance to restate Bitwise\u2019s view that Bitcoin is headed to $200,000 in 2026, while simultaneously characterizing the current sell-off as a maturing-market shakeout rather than a trend break.<\/p>\n

Is The Bottom In For Bitcoin?<\/h2>\n

He opened<\/a> with a near-term assessment that \u201cwe’re closer to the bottom here today than we have been for the past few weeks,\u201d linking the drawdown to sharply risk-off conditions and to ETF-era flow dynamics. In his framing, Bitcoin \u201creally was a leader of this risk-off move starting in mid-October,\u201d and he expects it to \u201cbe a leader to the upside once things start to turn around,\u201d adding that the market feels nearer to that inflection than it did \u201ca week or two weeks ago.\u201d<\/p>\n

When asked whether spot Bitcoin ETFs have become a double-edged sword, Rasmussen agreed, describing a market that now has deeper liquidity but more cross-currents. \u201cBitcoin, in our view, is one of the biggest technological developments of the past 15 years,\u201d he said, before explaining that institutionalization brings \u201cnew investors and adds more liquidity to the market,\u201d yet also means \u201cwe’re seeing a lot more choppiness in times where risk-off moves happen.\u201d<\/p>\n

He pointed to hedge funds rotating in and out via basis trades and emphasized that \u201cyou just have more market participants.\u201d Over time, he expects that shift to damp volatility, but not in a straight line: \u201cthroughout that journey, we’re going to see some choppiness, and certainly over the past month, we’ve seen that.\u201d<\/p>\n

Pressed on why volatility still looks elevated, Rasmussen separated short-horizon spikes from long-run trend. \u201cIf you look at the trend over the past 10 years, volatility has certainly been falling,\u201d he said, but conceded that \u201cover this short-term period, you do see spikes in volatility.\u201d The composition of buyers is, in his view, changing in a stabilizing direction. \u201cThe buyers for Bitcoin that we’re seeing come into the market today are more long-term buyers than we’ve seen in the past,\u201d he said, naming wealth managers and financial advisors who \u201care adding Bitcoin to model portfolios\u201d and \u201crebalancing on a standard basis.\u201d<\/p>\n

That institutional style of demand \u201cshould all reduce volatility, add more long-term demand,\u201d though he also noted a counterweight: corporate treasury buying that was strong earlier in the year has faded. \u201cThe corporate treasuries that are purchasing Bitcoin were coming in in size earlier this year, and that’s really dried up,\u201d he said, arguing that this demand pause is \u201cin part due to this sell-off that we’ve seen in October.\u201d<\/p>\n

Bitcoin Still Set for $200,000 By 2026<\/h2>\n

Rasmussen acknowledged the pain of lower prices for recent buyers, but insisted the medium-term path remains higher. \u201cLower prices are a gift and a curse, of course,\u201d he said. \u201cA lot of investors are feeling pain right now who bought Bitcoin above $100,000 or closer to the $125,000 mark, but we believe that Bitcoin’s going to end the year higher than it is today.\u201d<\/p>\n

He reiterated that the short-term bottoming process is likely advanced, and then pivoted to his structural thesis: \u201cInstitutions are finally here.\u201d He stressed that adoption is gradual rather than instantaneous: \u201cThat doesn’t mean that right away they deploy all of their capital.\u201d Even so, he cited early signals such as endowment participation: \u201ceven Harvard, we saw with their recent filing, is buying Bitcoin in their endowment.\u201d<\/p>\n

On macro, Rasmussen conceded an irony that an asset marketed as sovereign and untethered now reacts to central-bank expectations. Post-COVID, he said, Bitcoin has traded in a \u201cfiscally-dominated environment where rate cuts and other macro elements do play more of a role,\u201d and correlations to equities have \u201cspike[d] or raise[d].\u201d<\/p>\n

Still, he argued correlations are drifting back toward historical lows, and he emphasized Bitcoin\u2019s tendency to do well in \u201clow rate environments and risk on environments.\u201d Regarding the December Fed meeting, he said \u201cno cut in December is largely priced into the market,\u201d and suggested investors have \u201calready started to turn to 2026.\u201d<\/p>\n

The price target itself was stated unambiguously. \u201cSo this year, we had a price target of $200,000. And I think it’s safe to say that come December, that’s not going to happen. But we do believe that in 2026, Bitcoin will hit $200,000,\u201d Rasmussen said. He attributed that forecast to institutional inflows arriving \u201cin waves,\u201d spanning \u201cwealth managers or endowments or pensions or corporations or governments,\u201d which he believes are creating \u201ca systemic imbalance of demand versus supply.\u201d<\/p>\n

At press time, BTC traded at $91,205.<\/p>\n

\"Bitcoin<\/p>\n","protected":false},"excerpt":{"rendered":"

Ryan Rasmussen, Head of Research at Bitwise, used a Yahoo Finance appearance to restate Bitwise\u2019s view that Bitcoin is headed to $200,000 in 2026, while simultaneously characterizing the current sell-off as a maturing-market shakeout rather than a trend break. Is The Bottom In For Bitcoin? He opened with a near-term assessment that \u201cwe’re closer to…<\/p>\n","protected":false},"author":1,"featured_media":8349,"comment_status":"","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[245],"tags":[22,28,29,248,275,32,33,34],"class_list":["post-8348","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-bitcoin-news","tag-bitcoin","tag-bitcoin-news","tag-bitcoin-price","tag-bitcoin-price-prediction","tag-bitwise","tag-btc","tag-btc-news","tag-btc-price"],"_links":{"self":[{"href":"https:\/\/ad-doge.com\/blog\/wp-json\/wp\/v2\/posts\/8348","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/ad-doge.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/ad-doge.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/ad-doge.com\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/ad-doge.com\/blog\/wp-json\/wp\/v2\/comments?post=8348"}],"version-history":[{"count":0,"href":"https:\/\/ad-doge.com\/blog\/wp-json\/wp\/v2\/posts\/8348\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/ad-doge.com\/blog\/wp-json\/wp\/v2\/media\/8349"}],"wp:attachment":[{"href":"https:\/\/ad-doge.com\/blog\/wp-json\/wp\/v2\/media?parent=8348"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ad-doge.com\/blog\/wp-json\/wp\/v2\/categories?post=8348"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ad-doge.com\/blog\/wp-json\/wp\/v2\/tags?post=8348"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}