Bitcoin News Today: Bitcoin hits $135K price target as Citi, Melker, Barhydt predict strong 2024 rally

Late in the second half of the year, Bitcoin has remained a focal point for institutional investors and Wall Street analysts, with several prominent figures unveiling bold price projections for the end of 2024. These forecasts reflect growing optimism and an increasing integration of the cryptocurrency into mainstream financial strategies [1].

Citi, one of the leading financial institutions, has predicted a year-end Bitcoin price of up to $199,000 under a strong scenario, with a base-case target of $135,000. The firm attributes this potential surge to macroeconomic factors, broader adoption, and anticipated inflows into Bitcoin ETFs [1]. Citi’s model suggests that a 20% rise in the user base could drive the price to $75,000, while ETF inflows are expected to add $63,000 to the asset’s value. However, the bank warns that should equity markets falter or ETF inflows stall, the price could drop to as low as $64,000 by year-end [1]. Importantly, the bank noted that each $1 billion in weekly ETF inflows has historically increased Bitcoin’s price by 3.6%.

Scott Melker, a well-known crypto analyst, has reiterated his bullish stance on Bitcoin, emphasizing its long-term wealth generation potential [1]. He argues that the mathematical trajectory of Bitcoin’s appreciation is increasingly outpacing traditional measures of financial independence, suggesting a fundamental shift in how investors view the asset. His position mirrors the broader sentiment of institutional adoption and speculative interest currently shaping the market.

MARA Holdings, a publicly traded Bitcoin mining company, has further demonstrated institutional commitment to the cryptocurrency. As of July 2025, the company holds over 50,000 BTC, making it the second-largest publicly traded Bitcoin holder globally. Despite a minor decline in mining output during the month, the continued accumulation of Bitcoin highlights the strategic value that Wall Street is placing on the asset [2].

Bill Barhydt, another influential figure in the crypto space, forecasts a year-end price of $100,000 for Bitcoin, citing a 40% compound annual growth rate. His projection, while optimistic, aligns with the broader sentiment among bullish Wall Street analysts who see Bitcoin as a hedge against inflation and a long-term store of value [3].

The macroeconomic environment remains mixed, with strong performances from major tech firms and AI-driven growth fueling broader market optimism. However, volatility persists due to uncertainty around global economic conditions and potential trade policy shifts. In such an environment, Bitcoin continues to attract attention as an alternative asset with high-growth potential [1].

While these forecasts are speculative and not guarantees, they collectively signal a growing acceptance of Bitcoin as a serious asset class among institutional players. The continued accumulation, ETF inflows, and bullish price targets indicate that Bitcoin is increasingly being viewed through a lens of strategic investment rather than speculative trading alone [1].

Sources:

[1] The Wolf Of All Streets (@scottmelker) / X (https://x.com/scottmelker?lang=en)

[2] MARA Announces Bitcoin Production and Mining (https://www.moomoo.com/news/post/56380287/mara-announces-bitcoin-production-and-mining-operation-updates-for-july)

[3] Bill Barhydt (@billbarX) / X (https://x.com/billbarx?lang=en)