Bitcoin Could Hit $100,000 or $60,000 by Year-End, Analyst Says

Bitcoin‘s (CRYPTO: BTC) lackluster performance around $80,000 has raised concerns about heightened volatility heading into the final months of 2026.

Speaking on the Milk Road Show on Oct. 26, analyst John Gillen argued that Bitcoin’s current resilience suggests the recent rally remains intact despite mounting macroeconomic uncertainty and weakness across tech stocks.

"We could see $60,000. We could see $100,000. We could see both of them before the end of the year," he said.

Gillen said a pullback toward the 50-week moving average, around $76,000 to $78,000, would represent a normal retest rather than a failed rally.

A convincing breakdown below $75,500 could return control to the bears, while a decline toward $60,000 would raise more serious questions about the recovery.

Gillen believes Bitcoin is more likely to consolidate before resuming its upward trend, although he warned that volatility could intensify around the U.S. midterm elections.

Can BTC Hit $100,000 Without Money Printing?

John rejected the idea that Bitcoin needs massive Federal Reserve liquidity injections to reach new highs.

He pointed to more than $6 trillion sitting in money market funds, arguing that even a modest reallocation of capital could support risk assets.

Commercial bank lending, improving financial conditions and institutional adoption could also provide liquidity without direct central bank intervention.

He identified tokenization, agentic finance and improving SEC and CFTC regulatory frameworks as additional catalysts attracting institutional capital.

On the other hand, in the near term, prices could suffer from rising oil prices, persistent inflation, and expectations of another Fed rate hike in December.

Could Bitcoin Hit $150,000 Before Christmas?

Gillen warned that an explosive rally toward $150,000 before Christmas would signal an unusually aggressive move, potentially marking a blowoff top rather than the start of a sustainable bull market.

He would consider taking profits under that scenario but emphasized that Bitcoin needs more time and price action to confirm its longer-term direction.

Gillen remains bullish on Bitcoin’s long-term outlook, viewing it as a hedge against currency devaluation.

He warned that prolonged sideways trading could be investors’ biggest risk, potentially triggering emotional decisions and overtrading.

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