Canary CEO Predicts Bitcoin Will Hit $150K This Year—But Ethereum Surge Won't Last

Can Bitcoin Hit $150K This Year? And Why Ethereum's Surge Might Not Last

Steven McClurg, CEO of Canary Capital, is making bold predictions for the crypto market. He forecasts Bitcoin soaring to $140,000-$150,000 by the end of 2025, driven largely by significant inflows into Bitcoin Exchange-Traded Funds (ETFs) and a growing appetite from institutional investors. This includes major players like sovereign wealth funds, pension funds, and corporate treasuries, whose increasing participation is acting as a major catalyst for Bitcoin's price appreciation.

The Bitcoin Bull Case: Institutional Power

McClurg highlighted that the influx of capital from these large entities into Bitcoin ETFs is fundamentally altering the market dynamics. As more institutional money flows in, it creates sustained demand, pushing Bitcoin's price higher. This sentiment is echoed by Amberdata's Director of Derivatives, Greg Magadini, who also anticipates Bitcoin exceeding $150,000 this year. Magadini attributes this to Bitcoin's dual role as both "digital gold" for inflation hedging and a "risk-on asset," both sentiments currently favorable for price increases amidst equity market rallies and potential Fed rate cuts.

Ethereum: An "Older Technology"?

While bullish on Bitcoin, McClurg expressed skepticism about Ethereum's long-term prospects. He characterized Ethereum as an "older technology," arguing that newer protocols offer faster, cheaper, and more secure transaction environments. Despite Ethereum's recent strong performance, nearing its all-time high, McClurg believes its surge is unsustainable and expects it to "wane," potentially failing to reach new peaks.

The Counterpoint: Ethereum's Enduring Strength

Not everyone agrees with McClurg’s bearish view on Ethereum. Greg Magadini, for instance, strongly defends Ethereum's position. He likens Ethereum to a dominant platform like the iPhone, emphasizing its unparalleled developer ecosystem. This robust network effect, where developers continuously build applications on the Ethereum blockchain, is a powerful competitive advantage that compounds over time. Magadini predicts that Ethereum will indeed catch up to Bitcoin on a relative basis, foreseeing an ETH/BTC ratio reaching 7%, which would imply an Ethereum price between $8,000 and $10,000.

The Surprise Contender: Litecoin's Potential Comeback

In a less expected prediction, McClurg also hinted at a potential comeback for Litecoin, likening it to "silver" alongside Bitcoin's "gold." He points to Litecoin's ability to process Ordinals much faster than Bitcoin, suggesting it could become a preferred network for smaller transactions and digital art inscriptions. This perspective offers an interesting angle for diversification within the crypto space, highlighting a specific utility that could drive Litecoin's resurgence.

Navigating Market Seasonality

Finally, McClurg offered a valuable insight into market seasonality, advising investors to be mindful of historical trends. He noted that August is often a challenging month for risk assets, including cryptocurrencies, while September and October historically tend to be periods of stronger performance. This provides a practical framework for understanding short-term market fluctuations and potential entry or exit points.

Key Takeaways for Investors:

• Bitcoin's ascent to $150K+ is strongly supported by institutional adoption and ETF inflows.
• While some dismiss Ethereum as "old tech," its formidable developer ecosystem suggests continued relevance and potential for significant gains.
• Keep an eye on Litecoin for its potential utility in faster, smaller transactions and Ordinals.
• Be aware of crypto market seasonality: August can be tough, but September and October often bring stronger performance.