On July 14, The Block reported that Bernstein analysts predict Bitcoin will reach $200,000 by the end of 2025 or early 2026, noting that the growth of networks such as Ethereum and Solana will also strengthen its investment thesis as the market cycle expands beyond Bitcoin. Bernstein believes that this bull market will be "long and arduous," and unlike previous cycles driven by retail investors, the current cycle relies more on institutional investor participation and adoption. [Deep Tide TechFlow]