Canary Capital CEO Steven McClurg told CNBC Crypto World that Bitcoin (BTC) could range from $140,000 to $150,000 by the end of the year, but there could be a full-scale bear market in 2026.
McClurg said one of the main reasons for the rise in Bitcoin prices is the strong institutional influx into spot ETFs. He said large investment funds, as well as several sovereign wealth funds, pension funds and insurance companies also showed interest in Bitcoin.
McClurg also highlights advances in US crypto regulations and says that Altcoin ETF could be launched in September or October next year thanks to the SEC's new “general list standards.” He also described the passing of the stubcoin regulation law as a turning point for the industry.
McClurg said Bitcoin could rise to $150,000 if the Fed cuts interest rates, but added that an increase in defaults on credit cards, student loans and mortgages will weaken consumer demand in the US economy and pave the way for the bear market in 2026.
McClurg announced that they had applied for Litecoin's spot ETF, claiming that they were cautious about Ethereum and that the technology was outdated. “Litecoin has always been considered the silver of Bitcoin,” says McClurg. “We're regaining that strength thanks to code updates and normal integrations.”
*This is not investment advice.
