Watch Bitcoin Is Set Up for a Strong Rebound, Says Bitwise's Rasmussen

Ryan Rasmussen, Head of Research at Bitwise Asset Management, argues that Bitcoin is fundamentally set up for a significant rebound in the near term, despite current price action keeping the asset anchored near the lower end of its recent trading range. His assessment comes as global financial markets exhibit signs of renewed risk appetite—a backdrop that typically supports higher-risk asset classes like cryptocurrency.

Bitwise's institutional research team has maintained a $200,000 price target for Bitcoin through 2026. While acknowledging the substantial drawdown experienced by investors who entered positions at higher levels, Rasmussen emphasizes that the medium-term directional bias remains constructive. The firm's outlook is grounded in several structural factors reshaping the cryptocurrency landscape.

Institutional adoption represents the cornerstone of Bitwise's bull case. The proliferation of Bitcoin exchange-traded funds (ETFs) has materially lowered barriers to entry for large capital allocators, including pension funds, endowments, and insurance companies. Rasmussen notes that institutional exposure to Bitcoin has only begun to scale, suggesting significant room for further inflows as regulatory clarity improves and fiduciary frameworks mature.

Bitwise's research also highlights a historical macroeconomic tailwind: the empirically robust relationship between expanding money supply and Bitcoin price appreciation. As central banks navigate monetary policy in the inflationary environment, this correlation may provide additional support for cryptocurrency valuations.

Broader 2026 outlook positioning from Bitwise characterizes the crypto market setup as strong, suggesting the sector is entering a consequential phase in its institutional integration and mainstream adoption cycle.