According to David Bailey, CEO of Bitcoin holding firm Nakamoto, Bitcoin’s failure to reach the long-anticipated $150,000 mark can be attributed to the influence of two massive whales still offloading their holdings. Bailey suggested that once these large sellers have completed their selling pressure, market dynamics could shift dramatically, clearing the way for Bitcoin to surge to the six-figure milestone.

Bitcoin to $150,000 represents 36% jump

A potential rally to $150,000 would mark roughly a 36% gain from Bitcoin’s current price of $110,233, according to CoinMarketCap.

Related reporting: Joe Lubin predicts Ether could see a 100x surge as Wall Street shifts onto decentralized rails.

So-called Bitcoin whales—individuals or entities controlling wallets with massive BTC holdings—play a key role in shaping market sentiment. Because of their ability to move large sums at once, traders closely monitor whale activity, as fears of heavy selling can trigger sharp market reactions.

Bitcoin is down 2.92% over the past 30 days. Source: CoinMarketCap

The Bitcoin market has been shaken by several large whale transactions in recent weeks, underscoring the influence major holders have on price stability.

On Aug. 24, one whale offloaded 24,000 BTC, valued at roughly $2.7 billion, triggering a sudden flash crash. Data from trading firm QCP shows the sell-off wiped out nearly $500 million in leveraged positions within minutes, highlighting how quickly market sentiment can unravel when such massive moves occur.

Several analysts are tipping higher than $150,000 by year's end

Just days earlier, on Aug. 21, a long-term Bitcoin whale who had held coins for more than five years shifted part of their portfolio into Ether (ETH), then priced at $4,391. The move involved unloading roughly $4 billion worth of Bitcoin through the decentralized exchange Hyperliquid, a transaction that rippled through the broader market.

The selling pressure added to already volatile sentiment, dragging the Crypto Fear & Greed Index into “Fear” territory on Saturday. Since then, the Index has fluctuated between “Fear” and “Neutral,” eventually recovering to post a score of 49 (Neutral) by Tuesday.

Canary Capital CEO Steven McClurg has suggested that Bitcoin has a better than 50% chance of climbing into the $140,000–$150,000 range before the market turns bearish next year.

Yet, sentiment across the crypto industry points to even more ambitious targets. Many analysts and investors believe Bitcoin could rally well beyond $150,000 before the year’s end, as institutional demand and market momentum continue to build.

Back in December 2024, Alex Thorn, head of firmwide research at Galaxy Digital, predicted that Bitcoin could reach between $150,000 and $180,000 by late 2025. Adding to the bullish chorus, Arthur Hayes, co-founder of BitMEX, and Tom Lee, co-founder of Fundstrat, both projected that Bitcoin could surge as high as $250,000 before the end of 2025.

These forecasts highlight a growing divide among experts—not over whether Bitcoin will climb further, but over how high it can realistically go during the next leg of the bull cycle.