Bitcoin’s price could still dip to the $72,000–$80,000 range despite increasing institutional interest, according to Gracy Chen, Managing Director at Bitget.

Speaking with Roundtable host Rob Nelson, Chen pointed to ongoing volatility and hesitation from major buyers, including sovereign wealth funds and family offices.

"Even if the U.S. government, some individual states like Florida and Texas, and other countries like the Czech Republic have mentioned a Bitcoin reserve, there isn’t solid action yet," Chen said. "For example, Donald Trump’s Bitcoin reserve is still more of a promise than an action."

She believes that large buyers are still waiting for better entry points before committing significant capital. "I talked to many family offices and financial investors. They are being very cautious today," she explained. "They see $100K as a strong psychological level because just a year ago, Bitcoin was trading at $30K–$40K before the ETF was approved."

Profit-taking and market fluctuations

Chen noted that the approval of Bitcoin spot ETFs has contributed to both buying and selling pressure. Many early ETF buyers, who purchased Bitcoin at around $40K–$50K, are now taking profits after a 100% increase.

"For traditional finance investors, a 100% return in a year is impressive. So naturally, some of them are taking profits, which creates selling pressure," she said.

This, combined with potential black swan events — like major firm collapses similar to FTX or Three Arrows Capital — keeps investors cautious.

Bitcoin’s trading range for 2025

Despite long-term bullish sentiment, Chen sees Bitcoin fluctuating between $90,000 and $110,000 in the near term, with potential dips into the low $80Ks.

"When I say 70, I don’t mean exactly 70. I mean $72K–$80K as the price range I can see Bitcoin moving to," she clarified.

While Nelson disagreed with the idea of Bitcoin dropping that low, he acknowledged that a correction to $85K or $80K could be possible.