TD Cowen predicts BTC will reach $141K by December, citing market resilience

U.S. investment bank TD Cowen has assessed that the recent cryptocurrency market crash and subsequent recovery have proven the ecosystem's ability to withstand shocks. The institution explained that despite the largest-ever forced liquidations and a halving of open interest across all exchanges, most platforms continued to operate well. While tokens with low confidence suffered significant losses, TD Cowen noted that BTC and ETH held up sufficiently well. Based on this resilience, the bank projects that BTC will reach $141,000 by December. TD Cowen also pointed to the rapid pace of global Bitcoin adoption, adding that in Japan, the number of accounts holding cryptocurrency has quadrupled over the past five years to exceed 7.9 million.