Despite these short-term challenges, Mallers remains firmly optimistic about Bitcoin’s longer-term direction. He explained that while narratives often move faster than fundamentals, the underlying drivers eventually assert themselves.
He pointed to the likelihood of continued monetary expansion as a key factor favoring assets designed to hedge inflation, with Bitcoin standing out among them. Mallers also expects the Federal Reserve to cut rates over time, which would spike fiat liquidity and support broader risk appetite.
Although these conditions have yet to fully materialize, he stressed that their absence today does not diminish their impact in the future. Based on this outlook, he reaffirmed his view that Bitcoin could rise into the $150,000 to $200,000 range before the end of 2026, while acknowledging that additional downside may appear along the way.
That perspective aligns with views from other notable figures across the industry. Binance co-founder Changpeng Zhao has also projected Bitcoin reaching $200,000, while Standard Chartered sees it reaching $150,000 by the end of 2026.