Bitcoin seen reaching $175,000 as ETFs, tighter supply and stablecoins drive demand

Bitcoin could reach $175,000 over the next 12 months, supported by easing miner selling pressure, steady spot ETF inflows and wider stablecoin adoption. In an Oct. 16 interview with Bitcoin Magazine, Brian Vietn, head of digital assets research at Siebert Financial, said much of Bitcoin’s supply pressure has cleared while new sources of demand could enter the market. Vietn identified miners, exchanges, digital asset treasury companies and crypto lenders as four areas where the risk of large-scale selling has declined. Miners receive half as many new coins after each halving and can raise debt and equity capital through AI high-performance computing operations, reducing the need for forced Bitcoin sales. He also said exchanges have become safer following the 2022 collapse of FTX as scrutiny and transparency have increased.

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