Bitwise: Store-of-Value Share Drives $1.6M Bitcoin Target

Bitwise CIO Matt Hougan identifies Bitcoin's rising share of the store-of-value market as the decisive factor behind the firm's $1.6 million 10-year price target, with roughly 82 percent of that forecast resting on gains versus gold.

Bitcoin sits at $80371.43 beneath the EMA50 at $80980.83 and EMA200 at $81677.15, locking in the bearish trend structure while the MACD registers a golden cross at -27.12 that hints at accumulating momentum. Price remains inside the Bollinger Bands with RSI neutral at 47.3, so a test of upper-band resistance at $81863.63 appears likely before any pullback toward the lower band support at $79322.29.