Huoxing Finance reports that on September 2, TD Cowen analyst Lance Vitanza set a year-end 2026 price target for Bitcoin at $97,500, implying approximately 25% upside from the recent price level of around $78,000. Meanwhile, TD Cowen lowered its previous year-end 2026 baseline forecast of approximately $140,000 to about $100,000 and significantly revised down its earlier more optimistic long-term outlook. Vitanza stated that this downgrade primarily reflects recent Bitcoin price weakness, not any deterioration at the company or market structure level. Current BTC trading range is approximately $58,400 to $78,000, representing a maximum drawdown of over 50% from the prior high of more than $126,000, with monthly drawdowns一度 exceeding 20%. TD Cowen continues to view clearer regulatory clarity and inclusion in broader indices as potential catalysts for market recovery. For Strategy, TD Cowen lowered its price target from $400 to $260 but maintained a “Buy” rating. This adjustment follows the downward revision of Bitcoin price forecasts rather than any change in views on Strategy’s operational performance or capital structure. Additionally, TD Cowen initiated coverage on Strive, expecting the company to hold over 27,100 BTC in total by end-2026, and assigned a $32 price target, implying approximately 33% upside.
TD Cowen lowers Bitcoin 2026 price target to $97,500, strategy to $260
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Summary
TD Cowen revised its year-end 2026 Bitcoin price forecast to $97,500, a 25% increase from $78,000. Analyst Lance Vitanza attributed the revision to recent Bitcoin price weakness, not any deterioration in market or company fundamentals. Bitcoin has traded between $58,400 and $78,000, down more than 50% from its $126,000 peak. The firm still anticipates regulatory clarity and index inclusion will support a recovery. The price target for Strategy was lowered to $260 from $400, while maintaining a “Buy” rating. Coverage on Strive was initiated with a $32 price target and a forecast of over 27,100 BTC holdings by 2026.
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