Alliance Bernstein analyst: Still confident in Bitcoin's potential to reach $150,000 by 2025

Alliance Bernstein analysts Gautam Chhugani and Mahika Sapra remain confident in Bitcoin's potential to reach $150,000 by 2025. They stated that they feel better about this call, as Bitcoin indicators show a healthy cycle but are still in the early stages. The analysts believe that the recent drop in Bitcoin's price to around $57,000 was a beneficial correction that cleared excess leverage from cryptocurrency exchange futures contracts, thereby enhancing market stability. They believe that BTC is far from finished and note that the risk-return here is still attractive. Additionally, the analysts point out that even after 78 consecutive days of outflows from Grayscale's converted Bitcoin ETF (GBTC), it recorded a net inflow of $63 million on Friday, emphasizing that this is significant considering that GBTC has been a source of significant and sustained selling, and new 9 ETFs must absorb this selling.