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Bitcoin could surge as high as $150,000 this year, but a bear market is likely to follow in 2026, says Canary Capital CEO Steven McClurg.<\/p>\n
“I think there\u2019s [sic] greater than 50% chance that Bitcoin goes to the $140,000 to $150,000 range this year before we see another bear market next year,” McClurg told<\/a> CNBC last week.<\/p>\n McClurg said Bitcoin\u2019s potential last-gasp rally will be driven by anticipated interest rate cuts<\/a> from the Federal Reserve in September and October, with lower borrowing rates sparking an inflow of capital into risk markets. At last look, market participants are anticipating an 86.8% and 43.6% chance of a 25-basis-point interest rate cut in September and October, respectively, according to the CME Group\u2019s FedWatch Tool<\/a>.<\/p>\n Don’t Miss:<\/p>\n But McClurg said the Fed is likely to stop quantitative easing after the anticipated 50-basis-point cut this year. He said a broad market downturn will follow, citing macroeconomic conditions.<\/p>\n “I think it\u2019s gonna be bear market across the board,” he told CNBC. “I don\u2019t like the economic standing at all.”<\/p>\n McClurg said this while citing record student loan debt and defaults<\/a> exceeding levels seen in 2009, as well as similar credit card and mortgage defaults.<\/p>\n “We\u2019re starting to see a credit crunch for consumers right now, and that credit crunch is certainly going to lead to lower consumer demand, lower consumer confidence, and probably lower GDP,” he said.<\/p>\n Meanwhile, McClurg is even more pessimistic about Ethereum.<\/p>\n Trending: \u2018Scrolling To UBI’ \u2014 Deloitte’s #1 fastest-growing software company allows users to earn money on their phones. You can invest today for just $0.30\/share.<\/a><\/p>\n Ethereum has taken center stage following the passage of the GENIUS Act<\/a>. The stablecoin and tokenization narrative has driven record inflows<\/a> into exchange-traded funds. So-called Ethereum treasury companies are also scooping up the asset en masse<\/a>. Against this backdrop, ETH’s price has gathered significant momentum<\/a> and edged towards record highs.<\/p>\n According to McClurg, however, this run of form will not continue. He also said ETH will not reach its all-time high. He attributed this outlook to market competition.<\/p>\n Story Continues <\/p>\n “It is an older technology, and there\u2019s a lot of other protocols that have come in that are faster, that are cheaper to transact, that are fundamentally more secure, and I think it had a great run over about a five-year period, and now other protocols have taken over,” he told CNBC. “A lot of the market is moving towards ether because of the ETFs, but I do expect it to wane and not see all-time highs.”<\/p>\n See Also: New to crypto? Get up to $400 in rewards for successfully completing short educational courses and making your first qualifying trade<\/a> on Coinbase.<\/p>\n McClurg\u2019s remarks contradict recent narratives in cryptocurrency circles. For one, Bitcoin bull and MicroStrategy (NASDAQ:MSTR<\/a>) Chair Michael Saylor has repeatedly said<\/a> “winter is not coming back,” referring to an extended period of Bitcoin drawdowns.<\/p>\n Meanwhile, Bitwise investment chief Matt Hougan has recently said<\/a> that he expects 2026 to be “an up year” for cryptocurrencies, adding “I broadly think we’re in for a good few years.”<\/p>\n These views come as many now believe Bitcoin is no longer influenced by its four-year halving cycle and passive flows from ETFs will be enough to give it greater stability.<\/p>\n Meanwhile, analysts like Fundstrat investment chief and Bitmine (NYSE:BMNR<\/a>) Chair Tom Lee sees Ethereum surging<\/a> to over $7,500 by year-end and over $20,000 in the long-term.<\/p>\n At last look, Bitcoin is trading at $115,000 while Ethereum trades at $4,200.<\/p>\n Read Next: 2,000 High Earners Manage $6B With This AI Platform \u2014 Learn More\u00a0<\/a><\/p>\n Image: Shutterstock<\/p>\n This article Bitcoin To Hit $150K This Year, But Bear Market Will Follow: Fund Manager<\/a> originally appeared on Benzinga.com<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"Benzinga and Yahoo Finance LLC may earn commission or revenue on some items through the links below. Bitcoin…\n","protected":false},"author":2,"featured_media":99517,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[37],"tags":[50103,931,28,66812,23850,112,66811],"class_list":["post-99516","post","type-post","status-publish","format-standard","has-post-thumbnail","category-markets","tag-bear-market","tag-bitcoin","tag-business","tag-canary-capital-ceo-steven-mcclurg","tag-market-participants","tag-markets","tag-mcclurg"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/posts\/99516","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/comments?post=99516"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/posts\/99516\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/media\/99517"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/media?parent=99516"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/categories?post=99516"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/tags?post=99516"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}