Bitcoin continues to hover around the $100,000 mark, sparking lively discussions among experts about how high the cryptocurrency could rise during this market cycle. Hadley Stern from Marinade Finance recently shared his perspective, expressing fatigue with the ongoing hype surrounding the $100K threshold and emphasizing the need for Bitcoin to decisively break past it.

Stern’s Price Prediction and Market Insights

During an appearance on the Milkroad podcast, Stern projected that Bitcoin could climb as high as $160,000 before eventually settling around $120,000. While some analysts view this as a conservative forecast—considering other predictions ranging from $150,000 to $250,000 and even more extreme calls between $500,000 and $1 million—Stern stands by his estimate as realistic.

He explained that the market often stalls at psychological price levels like $100,000, similar to how it struggled around $10,000 several years ago. Stern also highlighted the growing institutional involvement in Bitcoin, particularly through ETFs and corporate investors such as MicroStrategy, which is generating strong buying pressure. Notably, around 6% of Bitcoin’s total supply is currently held by ETFs, potentially aiding future price increases.

While acknowledging the potential for surprises and the existence of traders betting on prices above $200,000, Stern considers $160,000 a balanced and achievable target.

Short-Term Bitcoin Price Outlook

Bitcoin’s price action in the short term has remained relatively steady, trading within a rising trend channel that faces resistance at the upper boundary. Currently, Bitcoin holds above approximately $107,900.

If it manages to push higher, Bitcoin could test the $130,000 range during this cycle. However, traders should also be prepared for a possible pullback toward the $100,000 to $104,000 support zone in upcoming sessions. Holding above this support during any decline would be a positive indicator for a renewed rally.

A more significant drop to the $91,000 to $95,000 range remains possible, though it would likely require Bitcoin to lose its current trading range.