Galaxy Digital has pointed to the growing popularity of the privacy-focused cryptocurrency among users concerned about Bitcoin’s increasing centralization due to major Wall Street funds and heightened government surveillance of transactions.
U.S. Senator Cynthia Lummis has stated that creating a national Bitcoin reserve could be a powerful tool to reduce the U.S. national debt, which now exceeds $37 trillion.
Overnight, the price of Bitcoin dropped from its previous all-time high above $126,000 to a four-month low of $98,962, before rebounding to $103,000 earlier today. Analysts at CryptoQuant examined the situation and dismissed claims that a bear market has begun.
According to Hougan, despite Bitcoin’s sharp drop to $100,000, there will be no “crypto winter”, and the market is expected to recover by the end of 2025.
According to experts, of the two main sources of capital inflow into the crypto market — ETFs and stablecoin issuance — only ETFs remain active at the moment. The total supply of stablecoins has increased by $100 billion (+50%) since the start of the year, while ETF inflows have stalled at around $150 billion.
Tom Lee, CEO of BitMine, said the current market decline is more technical than fundamental. He explained that the market is gradually clearing out speculative trader positions, which creates a foundation for future growth in the long term.
Veteran trader Peter Brandt believes that even in the event of a prolonged bear market, Bitcoin’s price will not drop below $60,000.
According to Michael Saylor, major banks such as JPMorgan, Bank of America, Wells Fargo, and BNY Mellon are currently preparing to work with Bitcoin — and this, he believes, will be the catalyst for the next bull market.
Currency exchange and payments will eventually move to distributed ledgers (blockchain) to enable instant settlements and reduce counterparty risks, predicted Bill Winters, CEO of Standard Chartered. He believes that combining traditional finance with blockchain technology will accelerate cross-border money movement and simplify financial contract settlements.
According to Matt Hougan, Bitcoin’s price could rise as the asset gains a larger share of the financial market segment focused on preserving capital rather than speculation or consumption.
According to the businessman, Bitcoin will continue to move in cycles — periods of rapid rallies will be followed by deep corrections that could reach up to 70% in the next phase. Over the coming years, the price of the leading cryptocurrency may drop by as much as 65%.
Most users of the prediction market Polymarket believe that Bitcoin will experience a quiet November, with limited price movement.
Bitwise Chief Investment Officer Matt Hougan has explained why he’s bullish on Solana over the long term. According to him, this Layer-1 blockchain gives investors “two ways to win” — and both look highly attractive.
American investor Michael Burry, known for predicting the 2008 housing market crash, published his first post since April 2023 today. In the new message, Burry warned that financial markets are once again in bubble territory, adding that “the only winning move is not to play.”
According to Glassnode analysts, long-term holders sold about 104,000 BTC in October — the largest sell-off since July, while short-term investors are realizing losses.
Michael Saylor, founder of Strategy, believes that by the end of 2025, Bitcoin is likely to reach $150,000. In the long term, he predicts that BTC could rise to $20 million.
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