Bitcoin could climb as high as $175,000 over the next few quarters, according to Brian Vieten, senior research analyst at Nasdaq-listed Siebert Financial. The target represents a potential 117% advance from levels near $80,800 recorded on October 15.

The forecast arrives as the cryptocurrency faces near-term pressure from exchange-traded fund withdrawals and elevated inflation readings. Vieten bases his outlook on structural improvements in the market since the 2022 downturn, when heavy leverage and institutional liquidations prolonged the decline.

Changed Market Dynamics Since 2022

Vieten argues that ownership of Bitcoin has broadened and traditional financial institutions now provide more financing options for digital asset investors. He describes a market with greater wallet diversification and stronger institutional participation compared with prior cycles.

His valuation approach incorporates money supply expansion, digital wallet adoption rates and ongoing demand for Bitcoin. The $175,000 projection exceeds Citi’s earlier target of $113,000 and sits above Bernstein’s estimate of $125,000 by the end of 2026.

Banks have begun accepting shares of Bitcoin ETFs as collateral for loans. JPMorgan, for instance, accepts shares of BlackRock’s iShares Bitcoin Trust, allowing holders to borrow against positions without selling them. Vieten notes that this development supports longer-term ownership while acknowledging potential liquidity risks if leverage rises too far.

Bitcoin miners are also diversifying. Many are investing in data center infrastructure to serve the artificial intelligence sector, reducing reliance on mining revenue alone. Companies that hold Bitcoin on their balance sheets tend to maintain low debt levels and conservative spending, which Vieten views as supportive of price stability.

ETF Outflows and Inflation Pressure

US spot Bitcoin ETFs recorded approximately $261.4 million in net redemptions on October 14, reversing a $175.7 million inflow from the prior session. Earlier in the month, the funds saw $729 million in withdrawals over two consecutive days.

These flows demonstrate that ETF ownership does not guarantee continuous buying pressure, as investors can redeem shares when conditions deteriorate. September’s US consumer price index rose 3.7% year over year, raising the possibility that the Federal Reserve may keep interest rates elevated or tighten further. Higher yields on traditional assets could divert capital from Bitcoin.

From current levels near $80,800, Bitcoin would need to gain roughly $94,200 to reach the $175,000 target. The path would require clearing resistance near $85,000, $90,000 and the $100,000 psychological level. The $80,000 to $82,000 zone continues to act as near-term support.

Stablecoin Growth as a Potential Catalyst

Vieten identifies expanding stablecoin usage as a central driver that could propel Bitcoin higher. He expects broader adoption of blockchain-based payments to attract new participants and liquidity into the crypto markets, indirectly supporting demand for Bitcoin.

Stablecoins such as USDC are designed to maintain a steady value through one-to-one backing with cash, bank deposits or short-term US Treasuries. The GENIUS Act, set to take effect on January 18, 2027, will require major stablecoins to be fully backed by eligible assets, a change expected to strengthen confidence in the sector.

Consumer access is also widening. Samsung plans to integrate USDC transfers into Samsung Wallet during the final week of October. The feature is scheduled to reach 82 million Galaxy devices in the United States and will allow eligible transfers to bank accounts in more than 60 countries.

Vieten does not regard the November midterm elections as a major risk to digital asset policy. He maintains that the combination of institutional financing arrangements, miner diversification and stablecoin expansion creates a more resilient foundation for Bitcoin than existed in previous cycles.