According to Canary Capital CEO Steven McClurg, there may be no more than 27% of upside left in this cycle before a downtrend begins.
McClurg said sovereign wealth funds and insurance companies have been asking questions and moving into allocations, and he expects some of that buying to peak in the coming months. If those big buyers slow or pause, the price path becomes harder to justify at higher levels.
Still, he expects cuts in September and October, and market pricing via a popular CME gauge places the odds of a September cut at roughly 92%. A Fed move can lift risk assets, or it can unsettle markets if it signals deeper trouble — either outcome matters for Bitcoin.
Not all voices are cautious. Cathie Wood (ARK Invest) projects a big upside — a bull case around $1.5 million by 2030, with lower-case scenarios in the high hundreds of thousands. She links the thesis to growing institutional demand and Bitcoin’s fixed supply.
Strategy executive chairman Michael Saylor said recently that “Winter is not coming back,” and he went as far as saying that if Bitcoin is not going to zero it could reach $1 million.
Mike Novogratz (Galaxy Digital) gives a range: midterm targets like $150k are possible, and under stronger adoption scenarios he talks about $500k–$1M longer term. He stresses those outcomes depend on macro conditions and large buyers.
Featured image from Unsplash, chart from TradingView
