Research focused on Tiger -focused in Asia set a Q3 price target of $ 190,000 For Bitcoin .(k) Accessing Give the market the strongest setup since 2021.
Tiger model enters a “base price” of $ 135,000, then the multiplier layers for foundations (+3.5%) and macro conditions (+35%) To reach the $ 190,000 forecast – which provides a 67% from an average of $ 113,000 this week.
The report depends on three main drivers. The M2 currency supply of over $ 90 trillion, ETF and corporate accumulation now costs 6% of Bitcoin’s supply, and a green light regulation that opens US retirement accounts in crypto.
Trump’s executive command allowing 401(k) Exposure adds the so -called tiger to “a specific Bitcoin transfer signal to a major institutional handling.” Even a 1% allocation from the $ 8.9 trillion pool equals nearly $ 90 billion demand.
The accumulation is visible. ETFs collectively hold 1.3 million BTC, while approach (Mstr) owned more than 629,000 coins, worth $ 71 billion. Purchase by convertible bonds gave the strategy flow of a structural quality. Moving volumes are also larger, with fewer transactions but larger size, reflecting a pivot from retail traffic to institutional block activity.
However, the report admitted that the network looks unbalanced. Daily transactions and active users remain well below last year’s highs, and retail participation fades. New initiatives such as BTCFI are required to re-ignite activity beyond institutional wallets.
On-chain gauges are also careful. The MVRV-Z, which monitors how far the market is the above price of the original charge of the holders, sits in 2.49-a zone that in previous cycles preceded the corrections as the income develops.
Adjusted spent output income ratio (Asopr) is at 1.019, which means that the coins sold are only slightly in revenue, suggesting entrepreneurs locking moderate ones instead of cashing out in excess.
Net not realized that income/loss (NUPL)A measure of the unknown income and loss throughout the network, stands at 0.558, indicating a healthy but not euphoric positioning. Taken, data suggests a market hot but not overexposed.
