Bitcoin’s Consolidation Deepens as Analysts Predict Major Upside Potential

Bitcoin continues to trade in what Binance CEO Richard Teng calls a “healthy consolidation phase,” even as the broader crypto market experiences heightened volatility. According to Teng, the recent pullback is not unique to Bitcoin but part of a wider downturn affecting speculative assets across global markets.

Despite short-term turbulence, several industry voices remain confident in Bitcoin’s long-term trajectory. Former BitMEX CEO Arthur Hayes recently argued that the current drawdown stems from a purge of excess leverage and a broader liquidity contraction. Hayes believes that if the Federal Reserve shifts back toward monetary easing, Bitcoin could surge dramatically—potentially reaching between $200,000 and $250,000, assuming liquidity conditions improve.

JPMorgan analysts, led by Nikolaos Panigirtzoglou, offer a more conservative but still bullish projection. They estimate that Bitcoin could climb to around $170,000 within the next 6 to 12 months, using a volatility-adjusted comparison with gold as the basis for their analysis. Their forecast suggests that as Bitcoin matures, its risk-return profile could begin to mirror that of traditional stores of value.

Meanwhile, market momentum remains under pressure. Fidelity’s Jurrien Timmer recently noted that Bitcoin is acting more like a risk amplifier than a safe-haven asset, with its momentum sharply fading during recent market stress. Still, Timmer emphasized that Bitcoin’s underlying network strength remains intact. He pointed out that even with the price dipping below $100,000, the asset continues to track closely along its long-term power-law growth model, reflecting steady demand and expansion of the network.

Across the broader market, major altcoins like XRP, Ethereum, and Shiba Inu are also seeing increased attention amid heavy flows, technical signals, and notable whale activity. While short-term uncertainty persists, analysts argue that the ongoing reset may ultimately set the stage for Bitcoin’s next major rally.