Bitget Research: Institutional Demand and Lower Leverage Support BTC and ETH Short-Term Outlook

Bitget Research Chief Analyst Ryan Lee says Bitcoin and Ethereum are on a firmer, institution-driven footing and expects Bitcoin to break $80,000–$85,000 and Ethereum to reach $2,800–$3,000 in the short term. The call cites steady US spot Bitcoin ETF demand (eight consecutive days of inflows totaling $2.1 billion through April 23) and lower leverage, with institutional buying absorbing roughly 19,000 BTC versus ~2,100 BTC mined in the same period. Lee warns macro forces — gold near record highs and oil rising toward $100/barrel — could tighten liquidity and delay rate cuts, meaning crypto upside depends on continued institutional inflows absorbing volatility. Overall market impact: institutional flows are reinforcing BTC/ETH as portfolio reserve assets and supporting further price appreciation, but elevated oil and defensive gold demand introduce macro risk that could curb gains if inflows slow.