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In a live interview on CNBC’s Squawk Box on Monday, Peter Chung, head of research at Quantitative Trading First Presto, confirmed his conviction that Bitcoin can reach $ 210,000 before the end of 2025, with the argument that it is actively evolving to a macro-level-to-Vevluchtoord stress.
Bitcoin goes parabolic
“We have not changed our market front views,” he started in the first seconds of the interview. “Bitcoin -Koerprijs remains $ 210,000, powered by institutional acceptance and the global liquidity expansion.” He emphasized that the same framework was based on the valuation of Ether Presto, and added: “For ETH our target price was based on the ETH-to-BTC ratio, which was 0.05. We also maintain that the efforts of the community also reflect the problem of the value leakage.”
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Chung pushed back on suggestions that the withdrawal makes the model invalid earlier this year: “is granted, not everything turned out to be the way we had expected so far this year, for example the macro-front views and the market reaction afterwards it was actually a healthy correction that has paved the road for the further re-rating of Bitcoin.”
Within Presto, he said, the dominant task this month “tried to find out whether something has been broken in the market – whether it is trusting whether it is a kind of global order – and how these assets are positioned in people’s portfolios.” Their conclusion: nothing systemically broken, so that the secular drivers remain intact.
The longest exchange came when the anchors asked why gold rose in April, while Bitcoin initially lagged behind. Chung offered a detailed taxonomy of Bitcoin’s behavior: “Bitcoin has two faces: digital gold and a risk-to-active. Usually Bitcoin behaves like a risk-on assets […]. But it is during a crisis that Bitcoin behaves like gold […]. These moments are rare. They only happen when the market is in doubt about the stability of the financial system dominated by the US […] And that’s what we saw in the month of April. ‘
Asked to identify the most statistically significant input behind the $ 210,000 figure, pointed to what he called ‘worldwide liquidity expansion’, a variable that Presto follows through the balance sheets of large central banks and large sovereign asset funds. Although the growth of the money supply has been delayed in the United States, it has been re-accelerated in China and, more recently, in the euro area-a pattern that will leak according to Presto in crypto markets due to cross-border currents.
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He also underlined the role of institutional order current data, which the company credits for spotting the 2024 rally. “The share of blocks above $ 10 million in Bitcoin Perpetual Futures,” he noticed on off-camera, “is back above 7 percent of the total volume for the first time since November 2023.”
Why $ 210,000 is not ‘optimistic’
Although the round number reaches the newspaper heads, Chung argued that $ 210,000 is conservative compared to historical adoption curves: “If you map Bitcoin’s network effect data on the monetization path of the internet between 1994 and 2007, you will be far above $ 210,000 at levels.
Nevertheless, he admitted that the path is unlikely that it is linear: “Our mission is not to be prophets of the exact week or month; our mission is to determine whether something in the structural thesis – layers, decentralization, adoption – has been broken. Nothing has been broken so far.”
The anchors pressed him on what a downward revision would force. Chung mentioned two red lines: a permanent collapse in real global M2, which would strangle risk capital and suppress the liquidity premium that pushes scarce digital assets higher, and a fatal consensus bug or administrative failure in the Bitcoin network – an event that he emphasizes “but a datulative is” never an in -fifteen -year -old, “but a databouts” but a natalitatical rise, “never had an in -quantitative rise,” but a datinitative rise, “never had to emphasesse in an inkintness” but a databouts “but a databouts” but a databouts “but a natation of a natation” but a natali -rise. include.
Apart from that, Presto sees the April correction as a “mid-cycle purification” that washed overheated leverage for the next leg. “Bitcoin is already trying to catch up,” said Chung, pointing to the meeting of the lows from the middle of April. Whether that momentum is actively propagating the territory of six digits of New Year’s Eve, in his words, “being dependent on whether investors choose to praise the geopolitical insurance now or after the next tremor.”
At the time of the press, BTC traded at $ 94,983.
Featured image of YouTube, graph of TradingView.com