$12 Billion Fund Chief Says Bitcoin Rally Coming Before Year-End

Core Insights - The current retail environment in the crypto market is characterized by "maximum desperation," indicating a potential bottom rather than the end of the cycle [1] - The shift towards an institutionally driven market is viewed as a bullish element, with optimism for a rally into year-end and Q1 2026 [2] - The flush out of retail leverage-driven sentiment is nearing completion, suggesting a bullish reversal is imminent [3] Market Sentiment - The market sentiment is at a depressive level, which is often a signal of a market bottom [1] - Recent liquidations and failures in yield protocols have contributed to this sentiment [1] Price Projections - Bitcoin is projected to reach between $150,000 and $200,000 by year-end, supported by strong fundamentals [4] - The BTC/Gold ratio has shown signs of bottoming, which historically precedes Bitcoin breakouts by 60–90 days [5] Market Structure - The current price action of Bitcoin aligns with a historic four-year cycle, suggesting a cycle top could occur in Q4 2025 or early Q1 2026 [5] - The next weekly cycle low for Bitcoin is either in or imminent, potentially leading to new all-time highs [6]