Bitcoin Magazine
Bitcoin Price Holds $111,000 as TD Cowen Predicts $141,000 by December
Bitcoin price is holding steady around $111,000 after a turbulent few weeks, but TD Cowen analysts project that the bitcoin price could reach $141,000 by December.
In a note released Monday, the firm highlighted the recent crypto market crash and recovery as a testament to the resilience of the broader crypto and bitcoin ecosystem.
The flash crash earlier this month triggered roughly $19 billion in liquidations, the largest single-day event in crypto history. Despite the scale of the sell-off, TD Cowen noted that most exchanges remained operational with minimal disruption, demonstrating the market’s ability to absorb shocks, according to The Block reporting.
The downturn was initially spurred by the U.S. President Donald Trump’s confirmation of a 100% tariff on imports from China, which sent the total crypto market down more than 10%.
While less-reputable tokens suffered heavy losses, major digital assets like Bitcoin did well — Bitcoin briefly fell 15% before closing down just 8% on the day.
“Though it was the largest single-day liquidation ever, with open interest halved across venues, most crypto exchanges operated with little or no downtime,” the note read.
JUST IN: $15 billion TD Cowen says #Bitcoin’s recovery from the market crash shows resilience and predicts BTC will hit $141,000 by December
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Global adoption of Bitcoin
TD Cowen’s analysts credit the episode not only to market resilience but also to growing global adoption. In Japan, for instance, the number of registered accounts holding digital assets has quadrupled over the past five years, reaching more than 7.9 million.
The surge in adoption has prompted Japan’s Financial Services Agency to reconsider its long-standing restrictions on banks investing in digital assets such as Bitcoin.
Bitcoin price climbed back to around $111,000 today after falling into the $104,000 range last week, as renewed corporate accumulation and optimism over a potential end to the U.S. government shutdown lifted market sentiment.
Bitcoin closed September around it’s current range but prior to the flash crash, it hit all-time highs in early October.
Bitcoin price in a gridlock
According to analysts, key resistance for bitcoin now sits at $112K, $115.5K, and $117.6K, with a convincing break above $122K needed to shift the bias back to bulls, while support below $105K could fail, with stronger levels at $98K–$96K.
The coming week may see a modest bounce, but failure to hold above $106.9K could open the door to sub-$100K prices, especially if the FOMC does not deliver a significant rate cut.
This post Bitcoin Price Holds $111,000 as TD Cowen Predicts $141,000 by December first appeared on Bitcoin Magazine and is written by Micah Zimmerman.
