Key Insights:
- Crypto analyst Scott Melker predicts Bitcoin’s bull cycle is far from over.
- He sees Bitcoin reaching $150,000-$300,000 before the next bear market.
- Continued strong institutional demand, fueled by spot ETF approvals, is a major driver of Bitcoin’s resilience.
Bitcoin has been at the center of the conversation for weeks now, especially with its price hovering around $104,696 in early June. So far, many investors are wondering if the recent dip is a sign of a pause in momentum, or the beginning of another rally.
However, according to crypto analyst Scott Melker, Bitcoin’s current cycle is far from over. In fact, he believes BTC could reach between $150,000 and $300,000 before the next bear market begins.
Bitcoin Still in a Bull Market Despite Short-Term Pressure
Over the past few weeks, Bitcoin has faced some headwinds. Some of these hurdles include Profit-taking after its late May all-time highs, issues with the U.S. trade tariffs and worries about the global economy.
However, Scott Melker insists that Bitcoin is still in a bullish phase. In a recent interview, Melker pointed out that institutional demand is still very strong.
He mentioned that Bitcoin’s resilience, even in the face of rising bond yields and macroeconomic uncertainty shows a major shift in how investors perceive the asset.
Bitcoin, which was once seen as a speculative asset, is now being treated as a long-term hedge and strategic asset.
Spot ETF Approvals and the Institutional Green Light
One of the biggest catalysts behind Bitcoin’s recent rise is the approval of Bitcoin spot exchange-traded funds (or the ETFs).
For years, the crypto community hoped regulators would greenlight these ETFs, which allow traditional investors to gain direct exposure to Bitcoin without holding it themselves.
That dream became a reality when the U.S. Securities and Exchange Commission approved multiple spot Bitcoin ETFs In 2024.
Major institutions like BlackRock and Fidelity immediately launched their products and brought in billions of dollars in inflows. Melker even called BlackRock CEO Larry Fink’s endorsement of Bitcoin a major “turning point.”
Political Support from the Top
Another unexpected driver of Bitcoin’s momentum has been U.S. President Donald Trump’s open embrace of crypto and NFTs. Trump, who was once skeptical of digital assets, recently shifted gears and has been making pro-crypto remarks.
This political backing has been a major source of optimism in the crypto community. Melker believes Trump’s influence helped fast-track regulatory clarity and brought crypto back into public discourse.
Political support at the highest levels also adds legitimacy to the asset class and may encourage even more adoption, especially among traditional investors.
Sovereign Wealth Funds Enter the Market
One of the most overlooked forces behind Bitcoin’s growth is the launch of sovereign wealth fund investments.
These state-owned investment vehicles, which are often used by countries to manage national reserves, are starting to allocate small portions of their portfolios to Bitcoin. According to Melker, even a 1% allocation from these massive funds could have a mega impact on Bitcoin’s price.
Because Bitcoin has a fixed supply of 21 million coins, even a small shift in demand from sovereign entities can cause major price movements. Funds from the Middle East and Asia have reportedly already started experimenting with crypto allocations, even.
Corporate Treasuries Continue to Embrace Bitcoin
While companies like Strategy and Tesla made headlines in the last few years for adding Bitcoin to their balance sheets, the trend is far from over.
More corporations are seeing BTC as a strategic reserve asset. They see it as one that can outperform cash in the long run and act as a hedge against inflation or fiat devaluation.
Melker argues that the continued flow of corporate adoption is a strong signal to the markets. Bitcoin is no longer just a tool for traders or crypto-native firms. It is now becoming a serious treasury option for major businesses.
So far, Melker’s conservative estimate puts Bitcoin somewhere between $130,000 and $150,000 in 2025. However, under more optimistic conditions like continued ETF inflows, stable markets and more institutional buying, Bitcoin could soar even further to a price range of $230,000 to $300,000.
