Grayscale "Bitcoin (BTC) is more likely to reach a new high next year"

JH Kim

Summary

Grayscale said Bitcoin is more likely to set a new record high next year due to improvements in the macroeconomic environment and expanded institution-led demand.
It emphasized that inflows from institutions are the key to market structure changes, unlike the past when individual investors dominated.
It stated that despite the recent correction, the long-term upward structure is being maintained.

Digital asset (cryptocurrency) manager Grayscale projected that Bitcoin (BTC) could set a new record high next year, supported by improvements in the macroeconomic environment and expanded institution-led demand.

On the 1st (local time), Grayscale said via its official X (formerly Twitter), "Bitcoin is more likely to record a new high next year," and assessed that the current market structure shows a different pattern compared to past bull markets. Grayscale explained, "This rally did not show a rapid parabolic price increase. This is the result of market maturation and changes in the supply-demand structure."

It analyzed that institution-centered inflows, such as ETPs (exchange-traded products) and digital asset reserves (DAT), have become a major source of demand. Grayscale stated, "The Bitcoin market has been reorganized into a structure led by institutions, unlike the past when the share of individual investors was high."

The macroeconomic conditions were also mentioned as a positive factor. Grayscale said, "Overall macro conditions are showing a favorable trend for digital assets," and explained, "Bitcoin recorded a 375% return, but at the same time it has been highly volatile, with corrections of an average annual decline of more than 10% occurring at least three times."

It added, "The recent decline that began in early October can also be seen as one of the corrections commonly seen in bull markets," and emphasized that the long-term upward structure is being maintained.