Analysis: Bitcoin's recent pullback is weaker than in the previous cycle, and optimists are betting on a year-end surge to $150,000

The Executive Director of the Hong Kong International New Economy Research Institute, Fu Rao, wrote an article in the Hong Kong media outlet Ta Kung Pao titled "Speculative Attributes Fade, Bitcoin Volatility Stabilizes," in which he pointed out: The surge of Bitcoin in 2025 is different from previous years, with the core reason being the widespread rollout of ETFs. The recent price correction is not significant compared to the past four or five years, and this change may be related to the influence of macroeconomic factors on traditional capital operating logic.

There are two opposing views in the market regarding Bitcoin's trend in 2026. One side believes that Bitcoin may face a significant correction, potentially returning to a lower price range, while the other side of investors is optimistic about Bitcoin hitting $150,000 by the end of the year and expects it to reach $250,000 in 2027. Currently, Bitcoin has largely completed its task of entering the traditional financial landscape, but it will still take 5 to 10 years to achieve the same level of social recognition as gold.