Utkarsh Ahuja, founder of Moon Pursuit Capital, suggests that Bitcoin could reach a price range between $120,000 and $150,000 by the end of 2027. This forecast depends on improved global liquidity and sustained institutional demand, rather than being a fixed target.
The recent market movement saw Bitcoin rise to $80,000 on Wednesday before dropping toward $75,000 on Thursday. Data from CoinGlass indicates that over $1 billion in leveraged crypto positions were liquidated during this period.
Ahuja notes that the current market rebound is a fragile relief rally driven by short covering and improved sentiment following the US midterm elections. He warns that further weakness in November is possible due to unsettled interest rate expectations.
To confirm a sustained recovery, analysts are monitoring spot buying activity and continued inflows into Bitcoin ETFs. Ahuja emphasizes that the ability of Bitcoin to reclaim and maintain price levels during pullbacks is critical for a long-term trend.
Macroeconomic factors, including the October US employment report, present ongoing challenges. Payrolls increased by 165,000, surpassing the forecast of 65,000, while the unemployment rate fell to 4.1%. These figures impact expectations for monetary policy.
Regulatory developments, such as potential changes to the CLARITY Act under Democratic control of Congress, may influence market sentiment. However, Ahuja maintains that global liquidity and institutional demand remain the primary drivers for Bitcoin's trajectory.
