Canary CEO Sees Bitcoin Hitting $150K Before Bear Market
Canary Capital CEO Steven McClurg forecasts Bitcoin could surge 19–27% to $140K–$150K before a bear market hits next year. He warns of a looming economic downturn and expects Fed rate cuts in September and October. McClurg credits spot Bitcoin ETF inflows and corporate treasury buys—from sovereign wealth funds to insurance companies—for driving the recent rally. Opposing views include Michael Saylor, who predicts no more crypto winter and a $1 million Bitcoin, and Bitwise CIO Matt Hougan, who sees 2026 as a strong bull market year.
Bullish
McClurg’s projection of a substantial Bitcoin rally prior to the next bear market reinforces a bullish market narrative. His emphasis on persistent spot Bitcoin ETF inflows and corporate treasury acquisitions parallels earlier surges seen after ETF approvals in 2024, which propelled Bitcoin above $70K. Such high-profile forecasts often boost trader confidence, driving short-term buying pressure. While macroeconomic headwinds and an eventual bear market could follow, the near-term outlook is positive, as traders may chase the forecasted 19–27% upside. Historically, similar optimistic predictions tend to catalyze bullish momentum, suggesting this news could lift prices in the coming months even if volatility increases ahead of the anticipated economic downturn.