Bitwise Projects Bitcoin Could Reach 1.3 Million USD by 2035

Week of September 2 - 8, 2025

Bitwise projects that Bitcoin (BTC) could climb as high as $1.3 million by 2035, fueled by rising institutional demand and tightening supply. The firm also expects BTC to deliver a 28.3% compound annual growth rate (CAGR) over the next decade—far outpacing traditional assets such as equities (6.2%), bonds (4.0%), and gold (3.8%).

JPMorgan analysts argue that Bitcoin remains undervalued relative to gold, citing record-low volatility. BTC’s volatility has dropped from 60% at the start of the year to just 30%. They estimate a fair value of $126,000 by year-end for Bitcoin to reach parity with gold in the private investment market.

BlackRock’s iShares ETF has emerged as one of the largest holders of both Bitcoin and Ethereum (ETH), rivaling major exchanges like Coinbase and Binance. The fund now holds more than 3.6 million ETH, and inflows suggest it could surpass Coinbase’s holdings within the year.

Standard Chartered estimates that Ethereum and companies holding ETH in the form of Ethereum Digital Asset Treasury (DAT) remain undervalued compared to their growth potential. Private companies collectively hold around 2.6% of the ETH supply, while Spot ETH ETFs have acquired another 2.3%. Together, this accounts for more than 4.9% of the total ETH supply withdrawn from the market in less than three years. It is projected that these entities could hold up to 10% of the total ETH supply.

CryptoQuant reported that over 1.65 billion USD worth of stablecoins has been deposited into Binance, signaling preparation for a new round of crypto purchases. At the same time, nearly 1 billion USD worth of Ethereum was withdrawn from the exchange.

Bitfinex noted that the current crypto market remains cautious rather than risk-seeking. Although capital continues to flow into the market, the buying pressure is not as strong as during the previous bull run when Bitcoin reached its all-time high. As a result, the altcoin market remains subdued. The approval of ETFs for altcoins could serve as a key driver for the broader crypto market.

Zhou Xiaochuan, former governor of the People’s Bank of China, commented that stablecoins may be used as speculative tools and could pose risks to financial stability without strict regulation. He also suggested that the necessity of stablecoins might be overestimated.

Technical Analysis

Bitcoin (BTC)

Short-term sentiment remains bearish. Support sits at $105,000, with a critical level at $100,000—failure here would invalidate the bullish outlook. If support holds, BTC could retest the $124,000 resistance.

Support: 3,400,000 THB / 105,000 USD
Resistance: 4,000,000 THB / 124,000 USD

Ethereum (ETH)

ETH maintains a sideways-uptrend, avoiding new lower lows. Support at $4,260 offers a potential entry, with upside to retest the previous all-time high of $4,900. A break below support would weaken the bullish case.

Support: 132,000 THB / 4,260 USD
Resistance: 160,000 THB / 4,900 USD

Zentry (ZENT)

ZENT gained 21.83% last week, rebounding off $0.0070 support. A stop loss should be considered if the price falls below this support, as the trend would likely turn bearish. The short-term take-profit target is set at 0.0100 USD.

Support: 0.22 THB / 0.0070 USD
Resistance: 0.34 THB / 0.0100 USD

POL (POL)

POL posted a 17.83% weekly gain, with the price starting to lift from its recent low. Keep an eye on the support at 0.23 USD, which can be considered a potential entry point. The take-profit target is set at the resistance level of 0.31 USD. If the price breaks through this level, the trend is likely to reverse into a bullish phase.

Support: 6.00 THB / 0.23 USD
Resistance: 10.50 THB / 0.31 USD

Investment Trends

The cryptocurrency market remains in a consolidation phase, but the overall trend is still upward, with Ethereum (ETH) continuing to lead the market. Investors are closely watching the Federal Reserve’s Monetary Policy Committee, which will decide on interest rates in mid-September.

Key data to watch this week falls on Friday, September 5, 2025, when the Non-Farm Payroll report will be released. The market expects 84,000 new jobs, a slight increase from the previous month. If the numbers continue to slow, it may increase the likelihood of a rate cut.

Nvidia’s earnings exceeded expectations, but the market focused on its Data Center revenue, which grew less than forecast for the second consecutive quarter. This has put pressure on the US stock market, particularly technology stocks, as well as the cryptocurrency market.

Historically, September has often been a weak month for both US equities and Bitcoin prices. However, conditions may differ this time if the Fed moves forward with a rate cut, which could have a positive impact on the markets.

Investment strategy

Focus on accumulating fundamentally strong tokens and those aligned with the stablecoin trend for medium- to long-term positions. Avoid short-term speculation until clearer positive news emerges.

References

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