Bitcoin Monthly Outlook: Is the Bull Market Continuation On Track?

We're in a historically interesting period for Bitcoin. With the halving behind us and institutional adoption accelerating via spot ETFs, the macro setup looks similar to 2020–2021 — but with important differences. **Bullish factors:** - Spot Bitcoin ETF daily inflows averaging $300M+ per day - MicroStrategy and corporate treasury buyers remain active - Post-halving supply reduction now active - Global liquidity cycle turning more accommodative **Risk factors:** - Elevated futures funding rates (retail overleveraged) - Mt. Gox repayments (~140,000 BTC) could create selling pressure - Macro risk: A strong USD rally would pressure BTC like all risk assets **Price targets:** Conservative bull case: $85,000 by Q3 2025 Base case: $95,000–$110,000 by Q1 2026 Bear case: Correction to $52,000 if Mt. Gox + macro headwinds converge What's your Bitcoin target for the next 6 months?