TechFlow News, June 15: According to The Block, several cryptocurrency funds have adopted a cautious stance toward Bitcoin’s near-term 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. The bottom range is projected to be approximately $45,000–$55,000, and Bitcoin may rebound 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 the highest cash allocation on record, 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 could extend the bear market for several more months, but the market is becoming increasingly rational, with prices reflecting fundamentals to a greater extent.
Jack Platts, Founder of Hypersphere Ventures, forecasts Bitcoin’s year-end baseline price at approximately $55,000, with a bear-case scenario of $40,000 and a bull-case scenario of $80,000.
