Bitcoin Could Hit $125K by End of Q2, Says Bybit’s Head of Derivatives

Key Takeaways:

• Bybit projects Bitcoin could reach $125,000 by Q2’s end, driven by regulation, ETF inflows, and a weakening U.S. dollar.
• The GENIUS Act and growing institutional interest are reinforcing Bitcoin’s status as a mainstream asset.
• While Bitcoin outlook remains strong, altcoins may face headwinds from high interest rates and macro uncertainty.

Bitcoin’s breakout to a new all-time high is just the beginning, according to Shunyet Jan, Head of Derivatives at Bybit, the world’s second-largest crypto exchange by trading volume.

In a market update shared Thursday, Jan projected that Bitcoin could reach $125,000 by the end of Q2 if current trends persist.

“Bitcoin’s climb to this all-time high underscores a transformative moment in the evolution of global finance,” Jan said, pointing to three main catalysts behind the rally, including regulatory clarity, institutional inflows, and macroeconomic pressure on the U.S. dollar.

Jan also noted the impact of the recently introduced GENIUS Act, which sets clearer rules for stablecoins.

“This kind of regulation builds confidence and infrastructure,” he noted, helping to unlock further institutional adoption.

Meanwhile, spot Bitcoin ETFs are seeing steady inflows, signaling that institutional investors are viewing BTC as a serious asset class.

“These products provide regulated access to Bitcoin, drawing in long-term capital,” he said.

On the macro front, the weakening U.S. dollar is amplifying Bitcoin’s appeal as a global hedge.

“Bitcoin’s inverse correlation to the dollar strengthens its role as digital gold,” Jan added.

Bitcoin search interest is at bear market levels, while price is above $100,000.

Once retail comes back, all of crypto will explode! pic.twitter.com/mH2xavjIKT

While optimistic on Bitcoin’s trajectory, Jan was cautious about altcoins. “Ethereum and other majors may follow BTC’s lead, but high interest rates and macro uncertainty could cap gains for smaller tokens,” he warned.

With BTC hovering above $110,000, Bybit’s forecast of $125,000 by quarter’s end reflects growing confidence in Bitcoin’s role in the evolving financial landscape.

Last week, crypto analyst Scott Melker said he believes Bitcoin could surge to $250,000 by the end of 2025, driven by institutional demand and a maturing market structure.

Known for hosting The Wolf of All Streets podcast, Melker pointed to reduced volatility and deeper integration with traditional finance as catalysts for the next major rally.

“$250K this year totally possible,” Melker said, noting that Bitcoin’s volatility has dropped considerably. “It used to be about three times as volatile as the S&P. Now it’s less than two times.”

Likewise, Adam Back, a prominent figure in the Bitcoin community and CEO of Blockstream, believes that Bitcoin is significantly undervalued and could surge to between $500,000 and $1 million per coin during the current market cycle.

In a recent interview, Back expressed surprise at Bitcoin’s current price level given the surge in institutional interest and major developments in the crypto landscape.

Back argued the price does not yet reflect the full scope of bullish momentum building behind the asset.

Meanwhile, according to Michael Saylor, founder of Strategy, Bitcoin’s recent price stagnation below the $150,000 mark can be attributed to short-term holders exiting the market.

He added that Bitcoin is now finding its way into the hands of institutions and investors with a longer time horizon, particularly through spot Bitcoin ETFs and corporate treasury strategies.

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