Recently, an institution released a study on the future trend of Bitcoin. They provided several price targets under different scenarios:

Under the baseline scenario, the 12-month target price is set at $143,000, with $70,000 as a support level — this support level indicates a strong willingness to protect the bottom. The logic chain behind this prediction is as follows: crypto ETFs will continue to attract capital inflows, traditional stock markets will remain strong, and there may be progress in US policies regarding digital assets.

However, they also acknowledge other possibilities. In a bearish pessimistic scenario, the price could drop to $78,500; conversely, if everything goes smoothly, the bullish scenario could see a high of $189,000.

These figures actually reflect several key variables in the current market: first, policy expectations; second, the participation of traditional capital; third, the attractiveness of crypto assets themselves. It seems that the performance of Bitcoin in the coming months will still depend on how these factors evolve.