Arete Capital Partner: Bitcoin has faced difficulty in reaching a new high this year, but is expected to surpass $150,000 in the second half of next year

On November 14th, McKenna, a partner at Arete Capital, pointed out in the market outlook that in the short term, Bitcoin still has a considerable pullback space, with the potential for a maximum decline of 31%. However, in the long term, institutional holding and fund inflows will drive the price to reach a new all-time high in the next few years. McKenna stated that Bitcoin has broken below the weekly 50-period moving average, which may lead to further downward pressure. The potential support levels include $96,200 (a high-volume node), $93,300 (the yearly opening price and the midpoint of the range), and the range of $86,000 - $91,000 (a full retracement would correspond to approximately a 31% pullback). He pointed out that the price has received support around $92,000 twice, which is typically regarded as a preferred phased entry position. Although a correction is expected in the short term, McKenna emphasized that he would view the pullback as an opportunity to hold spot positions. He believes that Bitcoin may not reach a new all-time high until 2025, but the price is expected to rise to over $150,000 in the second half of 2026 and break above $200,000 before the end of Trump's presidential term. He expects institutional demand, increased ETF holdings, and a new round of fund inflows in 2026 to be the key drivers of the long-term upward trend.