Macroeconomic expert Luke Gromen forecasts a potential decline in Bitcoin's value to $60,000 due to escalating trade disputes between the U.S. and the EU. He suggests that a combination of massive sell-offs and institutional withdrawals could emerge as the U.S. faces international isolation and enters a possible recession.
Gromen also pointed out that institutional investors might not propel Bitcoin's price to new heights without a significant fundamental trigger. He stated, "If you expect institutional investors to push the price from $90,000 to $150,000, that’s unlikely to happen without a serious catalyst. They will wait." Bitcoin would require an increase of over 65% from its current price near $89,800 to reach that level.
Signs of Ongoing Institutional Demand
Despite the gloomy outlook, institutional interest in Bitcoin remains robust, according to Ki Young Ju, CEO of the analytics firm CryptoQuant. He noted that U.S. custody wallets typically hold between 100 and 1,000 Bitcoin each, providing insights into institutional demand. Over the past year, institutions have acquired approximately 577,000 Bitcoin valued at $53 billion, with inflows continuing.
