Bitcoin Will See New Highs in 2026, $1 Million by 2030, Bitwise Exec Predicts

Bitcoin (CRYPTO: BTC) hit $79,000 on surprisingly hot inflation data Friday, yet remains roughly 38% below its October 2025 record of $126,198.

And yet, Bitwise’s Ryan Rasmussen expects the cryptocurrency to break its four-year cycle and reach a new high in 2026.

"I definitely think we’re going to end the year positive," Rasmussen told Cointelegraph Thursday.

"New all-time highs is a little bit harder of a reach," he added, pointing to improving fund flows, corporate treasury purchases and a potential fourth-quarter rally.

Bitwise predicted in December that Bitcoin would set a record in 2026, breaking its historical pattern of three positive years followed by one down year.

The asset manager also forecast that exchange-traded funds would buy more than 100% of the new Bitcoin, Ethereum (CRYPTO: ETH) and Solana (CRYPTO: SOL) supply.

Why Bitcoin Fell Short Thus Far

Rasmussen blamed Bitcoin’s 2026 weakness on several factors:

• Higher oil prices and geopolitical conflict increased inflation pressure.
• Interest-rate expectations shifted from cuts toward potential hikes.
• Investors moved capital from crypto into artificial intelligence stocks and major equity offerings.
• Bitcoin ETFs suffered heavy redemptions during the summer downturn.