Steno Research Predicts Bitcoin and Ethereum Will Hit $150,000 and $8,000 This Year

A senior crypto analyst at Steno Research, Mads Eberhardt, predicts that Bitcoin and Ethereum prices will rise to $150,000 and $8,000 in 2025 due to favorable crypto regulation, historical performance post-Bitcoin halving, positive exchange-traded fund (ETF) inflows, and a supportive macroeconomic climate.

According to the report, Eberhardt expects ETFs to continue their impressive trajectory from 2024, with Bitcoin ETFs experiencing net inflows of $48 billion throughout the year, while Ethereum ETFs will attract inflows worth $28.5 billion, mainly due to approval for staking in some of the funds.

Furthermore, Eberhardt predicts Ethereum will outperform Bitcoin in 2025, following historical precedent. Eberhardt believes Ethereum could replicate its 2021 performance when the ETH/BTC pair surged by over 100% in less than a month.

Meanwhile, Bitcoin’s dominance could decline to 45% from its current level of 56.6% as Donald Trump’s U.S. presidential victory encourages more robust onchain activity, which is more favorable for altcoins like Ethereum and Solana.

“To put it simply, we anticipate 2025 to be the best year the crypto market has ever experienced by far. This outlook considers the asset class as a whole, including factors such as price appreciation, adoption, and institutional involvement,” Eberhardt wrote.

Other Predictions

Eberhardt also predicts that decentralized applications (dApps) will experience a surge in total value locked (TVL), growing from the previous peak of $180 billion in 2021 to an all-time high of $300 billion in 2025. New crypto ETFs will also be approved, with Solana the most likely candidate.

Crypto institutional adoption will also rapidly increase in 2025 due to the emergence of a pro-crypto administration and the full implementation of the European Union’s Markets in Crypto Assets (MiCA) regulatory framework.

Finally, the USDC supply is expected to soar past $100 billion from its current level of $43.4 billion, but only if USDT remains unregulated in the EU. This would likely force Europeans to adopt USDC and institutional investors to favor USDC since it complies with European regulatory standards.