TD Cowen Lowers Bitcoin Price Target to $97,500, Strategy Target Price Cut to $260

TD Cowen analyst Lance Vitanza has set the Bitcoin price target for the end of 2026 at $97,500, indicating a potential upside of about 25% from the recent price level of approximately $78,000. At the same time, TD Cowen has revised its previous benchmark forecast of around $140,000 for the end of 2026 down to about $100,000, significantly lowering its long-term expectations. This downgrade is primarily due to the recent weakness in Bitcoin prices, with the current BTC trading range around $58,400 to $78,000, representing a maximum drawdown of over 50% from the previous high of more than $126,000. A clearer regulatory environment and inclusion in broader indices are still seen as potential catalysts for market recovery. For Strategy, TD Cowen has cut its target price from $400 to $260 but maintains a "buy" rating, with this adjustment mainly following the downward revision of Bitcoin price forecasts. TD Cowen has also initiated coverage on Strive, expecting the company to hold over 27,100 BTC by the end of 2026, and has set a target price of $32, indicating a potential upside of about 33%.

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