Renowned macroeconomist Henrik Zeberg has issued a high-confidence forecast, predicting Bitcoin (BTC) will reach a price range of $110,000 to $120,000 by the end of March 2026. He frames this as his base-case scenario, representing a 75–80% increase from Bitcoin's current trading range between $63,000 and $70,000.
Zeberg's bullish thesis is underpinned by three primary catalysts: a resurgence in global investor risk appetite, sustained capital inflows into spot Bitcoin ETFs, and accelerating institutional adoption. He argues that the ETF-driven demand has fundamentally altered market dynamics, creating more methodical price discovery and reducing susceptibility to miner-driven sell pressure.
The analyst also assigned a 25% probability to an "overshoot" scenario, where momentum could push Bitcoin toward $140,000–$150,000 if the rally extends beyond typical cycle tops.
Zeberg extended his predictions to major altcoins, forecasting that Ethereum (ETH) could reach $10,000–$12,000, driven by a move in the ETH/BTC ratio toward 10%. For Solana (SOL), he predicted a price range of $350 to $500, contingent on the anticipated broad-based market rise.
However, the forecast faces skepticism from other market observers. Critics point to broader macro uncertainties—including Federal Reserve policy, slowing global growth, and geopolitical risks—as potential headwinds. There are also concerns about "narrative fatigue," as Bitcoin has traded near or above $100,000 for extended periods, potentially muting the psychological urgency that fueled earlier retail buying waves.
Despite the debate, on-chain data offers some support for a constructive view, with declining exchange reserves suggesting coins are moving into long-term storage and neutral funding rates in perpetual futures markets indicating a lack of overleveraged positioning.
