TD Cowen Sets Bitcoin Year-End Target at $97.5K, Sees Regulatory Clarity as Catalyst

Global investment bank TD Cowen has set a year-end price target of $97,500 for Bitcoin, implying roughly 25% upside from the current price of around $78,000. The forecast, reported by Crypto Briefing, reflects a sharp downward revision from the bank’s earlier projection of $177,000–$225,000 for 2026–2027, a move that signals a more cautious near-term outlook for the leading cryptocurrency.

Why TD Cowen Cut Its Bitcoin Forecast

The revised target comes after a period of notable Bitcoin underperformance, which the bank attributes to recent market dynamics rather than structural flaws in the asset class. In its note, TD Cowen emphasized that the downgrade is a response to current price weakness, not a rejection of Bitcoin’s long-term potential. The bank also pointed to several factors that could drive a rebound, including clearer regulatory frameworks and the potential inclusion of Bitcoin in major financial indices.

Bitcoin has struggled to maintain momentum in recent months, with prices falling from highs above $100,000 to the current range near $78,000. This volatility has prompted several financial institutions to reassess their short-term expectations, though many remain optimistic about the asset’s long-term trajectory.